I just purchased a 95' camaro with the 4L60E. My problem is it seems to hang up on first gear. I have to let off the gas for it to go into second. It's not slipping at all. What could be the problem? I'm going to change the fluid and filter next weekend, but I'm thinking it needs to be rebuilt.

 

From what I hear that's usually an indicator of something wrong with the throttle body or sensors near it. You might try checking around that area. Something like that usually has nothing to do with the trans.