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Engine/Transmission (1998.5 - 2002) 2001 trans. service, what all should I do?

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I purchased this truck a few thousand miles ago, 2001 with 47 re, 125,000 original miles. Trans fluid is reddish brown and my converter is doing the lock/unlock thing. I want to pull the pan and do a complete service while I'm in there. Should I change the pressure transducer while the pan is off? I will check all my electrical grounds. I would take it to a professional for service but I'm afraid they will tell me they need to rebuild it. But just the same I hate to just start swapping in parts without knowing they are even bad.. Thanks
 
If it's shifting alright I wouldn't worry about the pressure transducer. My '98.5 is at 205,000 with its virgin original transmission (with tens of thousands of miles of 5th wheel towing) and I don't think the transducer has ever been replaced.

Get a good inch-lbs torque wrench and you should be able to do a good service changing the fluid & filter and adjusting the bands. This was helpful https://www.atsdiesel.com/additionalinfo/3092164/47RH-RE Band Adjustment v1.0.pdf
 
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