The Auto trans on my 2001 TJ is failing. Mitsu dealer has diagnosed as a faulty pressure pump. The only solution I've been offered is a replacement unit for $5k; or a complete refurbish by an auto trans co. for about $3.5 k. Any similar experiences, or thoughts?

Get a tested second hand one for ~$500-$700 + fitting.

Yep, good advice. Not worth the time or labour to rebuild a trans or an engine these days. It seems a full changeover with 3 month warranty is what most do anyways, and personally its far cheaper.

+1 on comments above