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Jerry, The '69 service manual calls for plate clearance between .024 to .125" four clutch discs 6 piston spring 383 or 440. The spec for the High Perf. 440 with 4 clutch discs and 10 springs is between .066 and .123" this is the measurement from the back of the pressure plate to the selective snap ring. If you are not within spec you can order a selective snap ring in different thicknesses to correct the gap. I'm building a '69 727 and ran into the same thing.
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