Bob,
I have the 700R4 (Level 3) from BTO in my car. I didn't have a chance to read the entire thread, as I'm here at work. But if you have any specific questions, you can shoot me an email or PM and I can answer 'em for ya.
Quickly speaking, from my understanding, the 200 and the 700 are the same except for mounting point (which changes the length of the driveshaft and the crossmember placement.) The only difference internally is the gearing. The 700 has a more agressive ("taller") first gear, so you'll get a bit more oomph off the line, but after that they're the same.
If you got a fairly new 200R4 for $200, then you STOLE it or it's defective :L
It's imperative that you get the TV cable setup correctly, otherwise the car won't shift correctly and you can burn up the tranmissions. Also, you'll need to spend some time in the dash redoing the shift linkage, as your current shift gate is not compatible since you'll be going from 3 steps (1-2-D) to 4 steps (1-2-3-D). This also entails finding the reverse position for the backup lights and also adjust the switch for Park/Neutral engine start. It's not just a plug & play conversion.
As for the TV cable, C4C5Specialist gave me info on getting a self-adjusting TV cable setup which should eliminate BTO's setup. My only question is (and I forgot to ask Paul this) "If this atuo-adjustment setup exists, how come no one is using it???" I plan on looking into it this year though. As my transmission and TV cable wear in, it's naturally changing the shift characteristics of the transmission. (I'll dip into my PM's and grab that post from Paul/C4C5Specialist and post it here.)
Here is the PM from Paul:
The TV cable part number is 25515598.
The bracket is discontinued from GM, but your application would be a 84-88 Caprice Classic, with a 5.0 engine with a 700r4 transmission, carbed.
This should let you get a used bracket from a junkyard.