The shifter is connected by a cable to a manual valve inside the transmission. This valve controls fluid flow to various components inside the trans, and controls actual gear engagements by routing hydraulic fluid to the correct places. Reverse would work, neutral would work, but you would not have reverse lights, and the car would not start because the reverse light and neutral start swithces are in the MLPS. Manual first, manual second, and drive would probably all put you into second gear because the EEC uses the MLPS to determine shifter position, and failing to see any signal from it, it would not know what gear you were in and would put the trans in limp-home mode by cutting the ground circuits to the shift solenoids, therefore putting the trans in second gear.
Second gear= both shift solenoids off.