While doing a left turn into a shopping center with my 92 RS V8 today, the trans slipped out of 1st gear when engaged the clutch. 3rd gear stopped working too. Now, I can't shift into either. 1st gear is like I am in neutral. If it try to shift into 3rd, it immediatly slips out. All of this started happening within a mile, after driving it for 12 years. No hard launches, no explosive grenading of parts with the power on. Just all of a sudden, 1st and 3rd gears stopped working.
My motor is a mostly stock L03 with a catback and upgraded suspension.

I have heard stories about T5's blowing up, but not under circumstances like this. Anyone had this happen? Is my tranny fried? The T5 is the only original major part in the car, and I have been thinking about upgrading it to a T-56 or a TKO, so I can add some more power.