I need some help for a freind.

[Da Hawaiian Punch]

Howzit and aloha to all you vetters out there in the cyberspace!!
My friend and forum member "BoyzToyz" has a question for all of you.
I tried to answer but was a little stumpt by this one also.
He got into a confrontation with a newer trans am this morning, (I let him tell you his story himself in the "Kill" section) and he noticed that in "drive" (3rd automatic) his rpm's were at a little over 5000 rpm's and his speed was at 106 MPH, I told him that that cant be right, 3rd is suposed to go high MPH wise then what his car was doing.
Why would his RPM's be this high and MPH be this low in 3rd gear?
He has the "Special Edition" 96 model with the LT-1 engine, with the cut open a filter lid and heater throttle body bypass.
I explained that maybe his gear ratio was chanced out to a lower gear, or that his speed sending unit was a little out of wack..I dont know though, what do you think? can you please help?
He couldnt post this himself because he's leaving out of town, and didnt have enough time to post this on the forum.

 

[Da Hawaiian Punch]

ttt

 

[wingnut]

i run about 115 mph at a little over 5k in 3rd with 373 gears.
hes slipping or really geared down.
check the fluid.if its dark it already burned the direct clutches.
if its way clean and doesnt stink it could be convertor slippage.