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The contact in the old operating solenoids were made to stay in there for the life of the unit. Most Borg Warners use the same solenoid. Fifth Avenue Internet Garage was one of the first companies to offer new units. Most are the 1-inch type shaft extension but some are longer such as convertibles and station wagons due to the odd under slung solenoid set up they had.
As mentioned, oil leakage into the unit has to be stopped if so. Seals are available for the transmission interface. A person may be able to repair the old ones but they should take the cover off and see what they are up against before trying that.
A person with such a tall geared rear axle may not need an overdrive. The whole point was to get a heavy car up to rod speed with as low an engine rpm as possible. lower gears like the 3.9:1 Dana 44 in the Mercury cars needed an overdrive but they are a heavy car on their own plus being able to carry 6-passengers.