I'm going to be installing my T-5 into my trans am this weekend, I know nothing about it's internal condition though and would like to pull the top cover off it and take a look, when rotating the input shaft it easily goes through all the gears, so what am I looking for inside the tranny that could show it is good or needs a rebuild, this is supposed to be a 1987 Z-28 transmission

First of all you can't just pull the top cover off any T5. Doesn't work that way. You first have to remove the shifter, drive the the roll pin down, un bolt the tail housing, and slide it off. Then you can pull the top cover.

When you get the top off, look for blueing on the gears (a common problem with T5's that have been run low on oil), chipped teeth, cracked shift forks and missing plastic pads on the forks, broken teeth or parts on the magent in the bottom of the case.

Since you have the trans out, why not rebuild it before you put it in the car? As I've said before, go to www.hanlonmotorsports.com and get the T5 video for $17. It walks you through the entire tear down and inspection procedure, and then step by step shows you how to put the trans back together. If it is an 87 trans it's a NWC. The rebuild kit for them runs about $150 as I recall. You need a couple of somewhat special tools to do the rebuild, but they aren't very expensive at all.

Best bet is to get the video first, watch it, then take your trans apart, inspect for damage, then go from there.

If you'll only listen to once piece of advise this whole year, it should be to fully rebuild the tranny while you've got it out.

DON'T FORGET:
The rear tailshaft bushing
Shift pads/forks