Do yourself a favor and avoid water all together, it'll cause you noting but problems with just about everything you submerge, I along with many other people I know have learned this lessons the hard way, I enjoy trails way better than mud pits and water crossings anyways.
Agreed on the freeze plugs, this is coming from someone who didn't and now I have one leaking

 

Yes I do Wheel a fair bit....and that was one thing about a deep pan that I was worried about.

 

Well I am suppose to get my truck back this afternoon. My oil pan was leaking at the back so I had Him replace the gasket and change the oil. I thought it would have to be the rear main seal so I had that already purchased , but it was fine. The reverse band was nearly completely burned and the others were showing signs of heat. The torque converter was completely done and he tells me that it was the culprit. I looked at extending the vent , but it is located inside the bell housing at the very top behind the converter. He told me he was gonna try and vent ti out the top but we'll see. I also had a broken transmission mount and figure this was the reason it would shift into 4wd when I stepped on it . I will let you guys know the final cost and how it works.

 

You can plug the vent inside the transmission and run a line to the engine bay. I know, because I had this done on mine with the last rebuild, and I know many others on Pavementsucks have done it too.

 

Alright..I have my truck back, cost me a fortune but the transmission is working well. Overdrive planetary gears were toast...so they are new...all new friction material and sonnax sure cure installed. My leaking oilpan had it's gasket replaced , broken trans mount replaced , Large aux cooler installed with check valve delete. He also installed a Transgo shift kit . It works really well and it better for $2000. Next I need to replace my Bent Leaf spring and Broken Front drive shaft . Man do you ever have to Pay to Play.