Retards aside, yea, it does sound like the trans in your ride has lost
the forward clutches. The pistons themselves generally do not fail,
but the seals and clutches within the drums will!
Yea, you're definitely looking at a rebuild of your trans, at the
Motorsforum.com is a website by car enthusiasts for car enthusiasts. It is not affiliated with any of the car or spare part manufacturers or car dealers discussed here.
All logos and trade names are the property of their respective owners.