Steve,
As I recall you have a T-5, not a Toploader. Is that correct? In any
case as Ron said the vent is still on the top. If I'm not mistaken you
have the S-10 version??? Anyway, this is a Mustang link to a T-5 page. I
believe the black circular piece near the top of the tailhousing is the vent
(though I recall the one on my Turbo Coupe being white).
http://images.google.com/imgres?imgurl=http://image.mustang50magazine.com/f/9234331/m5lp_0609_01_z%2Brebuilt_t5_transmission%2B.jpg&imgrefurl=http://www.mustang50magazine.com/techarticles/m5lp_0609_rebuilt_t5_transmission/photo_01.html&usg=__e_LM-_DmwGAxq8ROC1tQYa-P7Hc=&h=640&w=480&sz=84&hl=en&start=7&itbs=1&tbnid=U0ya35aTkmfMZM:&tbnh=137&tbnw=103&prev=/images%3Fq%3DT-5%2Btransmission%26hl%3Den%26safe%3Doff%26sa%3DG%26gbv%3D2%26tbs%3Disch:1
The vent, the top cover, the vent and the shift lever housing and boot can
all be sources of leaks. There are also O rings that can leak See #36 in
the diagram.
http://images.google.com/imgres?imgurl=http://www.hanlonmotorsports.com/t5-wc-lg.gif&imgrefurl=http://www.hanlonmotorsports.com/HanlonTIC.html&usg=__bTH7LNq6y3bEzkFwPV2mearjmxQ=&h=1275&w=1000&sz=54&hl=en&start=32&itbs=1&tbnid=agEJEP_TddzoHM:&tbnh=150&tbnw=118&prev=/images%3Fq%3DT-5%2Btransmission%2Bvent%26start%3D21%26hl%3Den%26safe%3Doff%26sa%3DN%26gbv%3D2%26ndsp%3D21%26tbs%3Disch:1
Tom
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