Generally not, but an old style 2-3 accumulator piston that is leaking will...
As will a leaking valve body gasket.
But a 1-2 piston and cover that is totally wasted will cause pressure loss that can effect all ranges.
I looked twice but can't really tell...is that 1-2 accumulator cover cocked in the bore, it looks like it's not sitting straight at all. If it isn't, then it will cause a large line pressure leak and that will cause the clutches to burn up and a whole mess of other bad things.
I'd replace the 1-2 and 2-3 accumulators - they tend to wear and should be replaced anyway. Youll need new valvebody gaskets as well, tighten them to 90 in-lbs at least twice. Those parts are cheap. then if that doesnt work, there's an MLPS at napa that some guys have found... only ~$30, which sure beats ford's price.
96 Mustang GT 5spd. w/ 248A Option (GTS). Stock for now until I get the Roush on.
97 Thunderbird 4.6L LX /w Sport Package
24k B&M Cooler, 1" lowered, Steeda UD Pulleys, Dynomax cat-back, J-mod, 3.73's, PI intake, PI cams, 03 GT MAF/Tube, SCT tuned - Gone but not forgotten.
MAMN12 Drag Racing Team [email protected] In need of updated times.