Hope you got your ride fixed. ...
I had very similar issues on my 94 for nearly 8 months.... One day I was going about 25mph [luckily] and the truck went from 25 to zero in about 1 second!!!
Glad I had my S-belt on!
At any rate, I lost reverse and nuetral, but was able creep home...
Took it to Ford for one of their rebuilt 3 year, 36k mile warranty replacements and come to find out a bearing had embedded itself in the valve body!
Needless to say this cost me another $600 for an unusable core. this ontop of the $2500...
Moral of the story If a pro says rebuild, rebuild and save your self at least a few bucks in the long run....
Doug