will I be needing a new transmission soon?

[Gizmo327]

since I juts got the car I decided to change out the fluids and found this in the transmission pan. No signs of metal particles, the sludge was where the filter was and am wondering if the pan filter was too close to the bottom of the pan.

[Rich G.]

Back in my gas station days I've never changed the fluid and filter on a car and not seen a bunch of crap in the pan.

[chargerdon]

That sludge is basically clutch material...not necessarily all that bad as it will always have some in the pan.   

Was the car sitting for a long period of time?   

Mopar torqueflites are very tough...   Id just put in a new filter, drain the torque converter also...   then put in new fluid and if it drives and shifts well...don't worry about it.   If not then a basic overhaul might be called for.    Heck, you can even overhaul it yourself...  youtube has several tutorials on basic overhaul of both the 904 and 727 torqueflites. 

[Chryco Psycho]

I highly doubt it , yours looks very clean t me

[RUNCHARGER]

It's fine. New filter and fluid and you're good.