as for the big drop in ratios, everybody quotes this.. and it's usually the people who don't use 700r4's.
I mentioned this because my daily driver is a 98 Trans Am with the 4L60E (just an electronic 700r4). If I nail it at speeds of around 30-40, it won't downshift to 1st because first is too low, and it lugs in 2nd, because its too high, until it hits the powerband.
A loose converter should put a band-aid on this issue, but I never liked that slipping feeling of a loose converter.
The 200r4 still has a good first gear ratio of 2.78 which is still a lot better than 2.48 for the 400. It would make my 3.31s feel like 3.73s in 1st.....
The 200r4 vs 700r4 will always be a source of debate! My turbo 400 has been such a good tranny, I hate to ever give it up! In my opinion, its the toughest tranny out there.