I have a 1955 Olds 324 engine & Hydra-Matic trans in my hot rod, but I did not connect anything to the throttle valve lever on the trans. Mostly because I changed the throttle linkage. Does anyone have experience in running an old hydramatic w/o this linkage? I understand that the lever is used to adjust the shifting based on the throttle position, but I'm wondering if it stays in a set position will it be a problem? Any advice is welcome.
Yes, that lever not only controls shift point, it also controls the operating pressure. It looks at throttle position, low throttle means early shifts at low pressure. High throttle delays the shifts and ups the pressure so that the band/clutches do not slip. If you never get on the throttle very hard it might be okay as long as you don't pull any big hills. Hard throttle and you will be slipping clutches and/or bands and burning up the trans.
Yes, you need to hook the throttle valve lever up or you risk frying the transmission. In the old days, I've seen it connected to a hand choke cable; pull on full pressure for acceleration and push the pressure off when coming up to a stop sign. Crude, but it did work. The correct linkage to the throttle would be a lot better.
the procedure for adjusting the linkage is in the Olds shop manual. Might look there. Here is an older post on a 55 Pontiac hydro fwiw 55 Pontiac Hydra-matic questions ?? | The H.A.M.B. (jalopyjournal.com)