Here's a chart showing the gear ratios of all popular transmissions. With a 4.11 ring and pinion, the first gear on the 700R4 will be pretty much unuseable at 12.57:1, unless you're trying to climb trees with the car. The drop from 1st gear to second gear is pretty severe also, going from 3.06:1 to 1.62:1 on the gear change. So the motor would be screaming in 1st gear with the 12.57:1 final drive, then drop the r's way down with a 2nd gear final drive of 6.65:1. 4th gear overdrive final would be 2.88:1, so that would be ok for cruising.
TH400 might be my choice for a weekend driver if I were not concerned with fuel mileage. It's a pretty much bulletproof trans that will give you a 10.19:1 first gear and a 4.11 final drive.
http://www.oldengine.org/unfaq/leadfoot/trans.htm