The Dynaflow was used on into the 401 era. The 401 survived into the Turbo 400 era. So............maybe, maybe not depends on what year 401. BUT why would you? The Dynaflow, especially the early versions were not performance units by any stretch of the imagination. By some accounts they were not even very good transmissions.
It's a 66 401. I'm asking because I have a 401 for sale and had this question asked. The guy wanted to keep his enclosed driveshaft
The dynaflow will hook up to a 59-63 401, but will not bolt up to the 64-66 401 without an adapter. Some good info on the link below. http://nailheadbuick.com/automatic-transmission-options-for-the-nailhead-to-get-rid-of-the-dynaflow
The 54-56 Dynaflow had a much different torque converter than the 57 and later models. The TT dynaflow came out in 53 and got pregressively better until 1956. Besides that issue, the bellhousing on a 54 Dynaflow has a different bolt pattern than those installed on any 59-63 401s. The 53-56 264/322 bell housing and flywheels look the same as the 57-66 but in fact they are about 1" larger.
Thanks for the info and link guys. I didn't know for sure and didn't want to give the guy wrong info.