my car is going in the shop to get the tranny rebuilt (stock 700R4, 3.27 rear). the car is a relativley stock car that will be a D/D. while the tranny is apart, is it a wise idea to look into changing the 4th gear to something a little more mileage friendly.

i believe this tranny has a .72 4th gear? how low could I go and not risk damaging the tranny from the gears being too far apart?

There are no alternate ratios available for the 700R4. What you've got is all you get.

yeah, i just talked to the tranny shop and they pretty much said that its a major ordeal to change the gear ratios and would be waaay out of my budget. so forget that idea!!

major ordeal? More like re-inventing the wheel. Different gear sets for a 700r don't exist.
also, factory is .70