I bought the car used on August 15, 2009 with only 43,000 miles on it. The transmission shifted fine at that time and the fluid was clean and red. On March 26, 2010 with 46,950 miles, the transmission started slipping badly. When I accelerated from a stop, the car would rev higher than normal and then take off slowly like when the clutch is not released completely on a manual transmission. The transmission would shift very slowly between gears. I have to rev the engine to over 4,000 rpm to get over a hill. I dropped the transmission pan to change the transmission fluid and filter. What I found was metal chips, fine brown particles, and the magnet was covered with a gray metallic sludge. I was told by transmission people that the bands and clutch plates were gone. The fluid and filter change did nothing to help or resolve the problem. The only recourse that I have is to rebuild or replace the transmission. Another fine GM 4T65E transmission!