Low mileage doesn't mean a whole lot with the transmissions on these trucks unfortunately.
First thing is no more launching. It is your truck, do what you want but your transmission obviously has something wrong with it. Why would you want to blow it apart? Take it easy on it until you find out what is wrong with it.
Leave the shift selector in OD and go out somewhere where you can get it in 4th and keep it there for a bit. Now when it makes it into 4th, give it moderate throttle(not enough for a TV downshift)just enough to accellerate decently and see if the truck feels like it falls on its face a bit or feels like you just put it in neutral. If it does you have damaged the 2-4 band apply ridge.
They sell little extenders that you can put on the end of the apply pin for the servo that will extend it. You want as close to 1/16" servo travel before band apply as possible. Working on this is a pain in the but in the truck because the exhaust is right next to the servo cover you need to get to.
If it is a Ty, it will have all the updated parts in it except for the clutches.
If it is a Sy, it should be completely updated. It will only have a rear planetary with the oil slinger(HP some call it), the rest will be regular duty stuff that will need to be upgraded to 93 specs. If you go all out, you can get it up to 97 specs(bonded pistons come standard on those units).
If you don't want to mess with all that, look here:
http://www.raceprovenmotors.com/Onlinecatalogue/sytycatalogue/transmissions/transmissions.htm
Or call these guys:
http://www.roadmastertranz.com/
Either one will set you up right.
Take care,
Blake