The TV cable controls the transmission. Set it up wrong, and you'll fry that 700/R4 quicker than an egg in a hot skillet.

Go to this site and read as much as you can in their tech section.

http://www.bowtieoverdrives.com

Also, the TV cable hookup on the carb end is specific to the carb. I'm not sure there is a carb kit to match your old 2bbl.

You'd be better off to call Bowtie Overdrives (or some other trans supplier) for the kit rather than compile all the answers you'll get here. They've always been willing to help me.