Yes the 700 is an awesome transmission and mates really well with the 6.2. I believe operator error is the #1 cause of failure for both units. I hope to repower an M35 someday with a hopped up 6.5 GEP motor and Raptor 700r4 with a Np241 for the awesome low range. Plus retain the stock transfer by moving it back like I did with the M211. I would leave the truck 6x6 too and not go with the usual bob job.
That sir, would be one killer M35.
Everyone knows you can't have the best of both worlds without spending bookoo dollars. I got tired of hearing this and realized the 700r4/Np241 combo in a deuce would indeed give you the best of both worlds of speed and low gearing for off road work. And for bottom dollar too.