I had some flight time to kill last night on a plane and found my acceleration program and thought I'd revisit this thread.
In performance calculations with the 4R70W, you are only concerned with first through third. The two shifts make a substantial difference in performance. It seems adding a third shift point would only add more. I would need to run the calculations with the 5 speed ratios (1st through 4th) to see if there was indeed any difference.
FYI... I extrapolated my shift times from several datalogs taken at the track with a known ET to be able to scale the elapsed time for the shifts. It was very repeatable giving me confidence in the numbers.
From my research, a F1 race car transmission can shift in as little as 0.1 seconds! Most street transmissions are reported at 0.5 to 1.0 second shift times. Some very high end street cars can come close to 0.15 seconds. That seems phenomenal to me, especially considering I calculated my shift times at a paltry 0.665 seconds for the 1-2 shift and 0.475 seconds for the 2-3 shift to the nearest 5 thousandths of a second average. Mind you the shush box 4R70W I have in the Blue Flame was purpose built and already came with the J-mod.
If I extrapolate the 5R55 gearing into the acceleration spreadsheet making some minor adjustments to scientifically emulate the gear change, I believe the 5R55 could shave 0.328 seconds off my ET.
I'm not sure on the effect on the converter flash without further data but it would likely be multiplying torque in 2nd gear as in 1st gear. Even if that assumption is wrong, it would still probably be worth over 2 tenths in a like environment.