Hi Guys!
I've completed the installation of a 700R4 transmission in my El Camino.. I'm going with a simple switch. I'm grounding one wire on the trans and using the switch to send 12 volts for lockup to another wire. (instructions from a 700R4 website. )
My question is.. Is it OK to drive around in the OD position constantly , and switch into lockup only when I need it... Or should I use the D position most of the time and select OD and turn the switch on when I want lockup... Or does it really even matter since the wiring configuration provides lockud in either position ?? Thanks !

As long as you have the lockup sorted out and the trans adjusted so that it shifts correctly, you should simply leave it in OD. It should up and downshift to meet your throttle needs on the street...

At the track, D would likely be the way to go.

I'd look into making it auto-lockup for everyday driving. Manual would be a pain....