Need input on transmission slipping

[PeteG]

Hi all,

It's been a long time since I've been on this board. My 2001 3.0i is at about 196k and overall runs strong, no rust, great engine. The other day on a cold wet day I started it up and started noticing what felt like the transmission slipping. I put in in drive and it just revved, did not catch at first. Eventually it caught but ever since I've been feeling it slipping every time I drive. This never happened before. No trans light came on dash.

I took it to my local guy who works on it, plugged it in to read the codes. Said there was an O2 sensor code and some misfire codes (which I think are prior to me replacing all plugs, last guy didn't clear my codes I think). He said he wasn't pulling any tranny codes. He took it for a ride and said it felt indeed like it was the tranny slipping.

He suggested changing the "lifetime" trans fluid in an effort to buy a little time, but stated that at almost 200k, the tranny's days are probably limited. After I left later yesterday, a trans light came on the dash. I didn't notice it riding any differently though. Today the light is not on.

So, thoughts? Is it the death march? Any things to do or start looking for a new tranny or a new car? I'm the original owner of the car and love it, rides great and is solid. But thinking a new tranny (even a rebuild) may not be worth it- or is it??

Thoughts, opinions greatly appreciated! Sorry for the long winded post, just trying to be thorough.....