Problem resolved, truck and driver now at home. THANK YOU to all who responded to my plea. Below is a summary of events after my post on '911'.
Shortly after posting I located an internet article by TDR member Joe Leonard (of MOPAR Truck Parts) on the build of his 48RE for towing by ATO Performance Transmissions in Rancho Cordova (about 55 miles from my truck). A late a.m. call to ATO confirmed member input that the 1740 code is usually not serious especially since I drove it almost 100 miles with no problems. Drove 60mph, 1600 rpm and the cleared code did not return. On arrival at ATO they immediately installed a gauge to check governor pressure during a very 'spirited' test drive. ATF was analyzed and everything looked fine. Since I was there I was willing to leave the truck for a more detailed inspection and repair/rebuild if necessary. ATO then decides to pull the pan. The pan interior has NO metal, the magnet has a thin layer of band/clutch (??) dust. ATO adjusted 2nd gear band and at my reqeust installed a deep aluminum pan AFTER drilling, tapping and installing a plug for temp sensor (NC). I was a late afternoon walk-in and they spent close to 4 hours with me and the truck. The bill..cost of pan (less than mfg. site) and $47.50 labor! Owner Jim Galatioto, Scott and Becky (family run) treated me like family. I was disappointed that I did not need an ATO HD 48RE...my 1st choice when the time comes.