The band is only there for 2nd gear braking . You can take it out,and remove the spring in the servo and replace it with some 7/16ths nuts/washers. You still could be getting feed to the intermediate clutches though, through that route, I think... (Russ Abrams , you there? )
A sticking governor will only hold it in 1st gear, not lock it up.
Here ,this will keep you busy for a while:
http://books.google.com/books?id=buw...age&q=&f=false