Turbo 350 (TH350):
* Pros: Simple design, robust, relatively inexpensive to rebuild, readily available parts, good for high-horsepower applications *with modifications*. Easier to work on for someone with less transmission experience.
* Cons: Only 3 speeds, less fuel-efficient than a 4-speed, less sophisticated shift control (generally less smooth shifting). Can struggle with higher torque applications without significant upgrades.
4L60E:
* Pros: 4 speeds, overdrive gear improves fuel economy, electronically controlled for smoother shifts and better adaptation to driving style, generally stronger than a stock TH350 (though still prone to failure with abuse or neglect).
* Cons: More complex design, more expensive to rebuild, requires specialized tools and knowledge for repair, more prone to internal failures if not properly maintained (especially the 2nd gear clutch), can be delicate under high-horsepower applications.
In short:
* Choose the Turbo 350 if: You need a simple, strong (when properly built), relatively cheap transmission for a high-horsepower application where fuel economy is not a major concern and you prefer a simpler mechanical design. High-performance builds often opt for a built TH350.
* Choose the 4L60E if: You need a more fuel-efficient transmission, smoother shifting, and more gears for better performance. It is generally suitable for moderate horsepower applications, but needs proper maintenance to avoid costly repairs.
Both transmissions have their strengths and weaknesses. The "better" choice entirely depends on your specific needs and the vehicle in which it will be installed.