The probability of the e40d being better is not very good. The aod is lighter and when built right (yes it has to be built) will be strong enough for your needs. I am not a big fan of the e40d because when someting goes wrong with them it is usually big. As far as the aod...they just wear out. Rebuild them with a j-mod and you are in business. I would have to check to see what other upgrades you could do. I know the birds didnt have the low 1-2 in them until they went to an aode, not sure about the pickups. As far as the push button, if it is an aod there is not button. They did not get one till they turned into the aode. One more thing you can do is look at the tranny pan of a bird, moostang, crown vic, or ANY rear drive ford car. They all had aod, aode, or 4r70w trannys.
Chris