I think it would be best to do both at the same time. I am in the same predicament too. Yes all the 48RE's are the same here are the changes from the 47RE. There are quite a few tweaks to the 48RE. Steel rear planet vs aluminum in the 47, six gear planets vs five in the 47, rear clutch plates have more splines, forward band strut is slightly thicker, forward band uses different apply lever, single sided clutch plates on OD direct, more clutch plates, heavier sun shell, stator shaft has graphite seal vs no seal on the 47.