700R4 torque conventer?

No its not true, they have changed the automatic transmission 2 times since the 700R4. After the 700R4 was the 4L60E and then the 4L80E on LS series motors. The manual transmission has been a 6 speed borg warner(now tremec) T56 in the corvette from 92 and up starting with the Lt1 motor and continued with the LS1/LS6 corvettes