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The code is for tcc slippage. You need a turbine seal deep in the trans and a converter $$$$. I do believe PCM tuners can widen the values for the light doesn't come on anymore. 

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This is a really good video that shows you about the P0741, he shows the seals and TCC.  I like this vid.  @OldCadTech  Have you seen this video, you are about to do some work, they speak of the worn bushing you have a problem with, Mike


Pre-1995 - DTC codes OBD1  >>

1996 and newer - DTC codes OBD2 >> https://www.obd-codes.com/trouble_codes/gm/obd_codes.htm

How to check for codes Caddyinfo How To Technical Archive >> http://www.caddyinfo.com/wordpress/cadillac-how-to-faq/

Cadillac History & Specifications Year by Year  http://www.motorera.com/cadillac/index.htm

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