1952-59 Ford Overdrive is engaged?

I have been working on a 54 Ford Mainline for a little over a year now...rewired underhood and dash, had the original 223 engine rebuilt and reinstalled with dual exhaust and did a pretty good home garage, paint booth, paint job (in my opinion). A solid 5 footer! It would have been perfect but I chose the one wet cold day to do the blue and had a minor paint flake bonding with paint issue . I painted it original Sheridon blue on the bottom but changed the roof to a 54 Ford Sandstone white.

Anyway,
I drove it 25 miles down the 60 in Mesa, AZ from the garage I painted it in to my garage. Ran like a champ, I bombed down that freeway at a reasonable speed and had no power issues. The weird part is when I down shift or let off the accelerator the transmission feels like it is in neutral, no load, no raise in RPMs, no bogging...hopefully you get the picture... When i get back on the gas pedal the transmission picks it up flawlessly, I accelerate with no problem, no slipping. It seems to me like overdrive might be engaged at all time. Does this sound like it is the case. The overdrive has been disegaged since I bought and I am looking to work through it ASAP. Other than the 25 miles I am rarely driving it until i figure this out.
If anyone has any thoughts I would appreciate hearing what you have to say.

Thanks,

Jason

 

Buy this http://www.ebay.com/itm/MERCURY-FOR...Parts_Accessories&hash=item564c2b89f6&vxp=mtr You'll be glad you did.

 

Thanks again Jeff. Just purchased. As a bit of a site lurker, I have seen you make similar suggestions to others on useful products. I certainly hope you collect commission.

 

It sounds like the OD was engaged and freewheeling. That CD you just bought will explain it better than I could.