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As for your HP comparison - cars back then didn't have as much HP as you think. Most of them, barring the rare factory hotrods, accomplished their work with the peak torque being delivered in the 2000rpm range, not high HP. Sure the gross HP ratings were high, but compared to today, they weren't powerful at all, especially for the displacement. I can cite examples and references if you don't believe me.
Oh ..I truly believe you ..but if you can find a Eurotrash that puts out as much torque as the bottom of the line 383 2bbl (or 318 for that matter) and anything BUT some hiper current engine that can match the HP ..for more than a few exceptional engines ..that I'd like to see. Torque is torque sewing machine engines just don't produce much of it ..and how does hammering your drivetrain in the "off the line - 2000rpm" range possibly put less stress than something that has a toque peak that is somewhere in the stratusphere?? My 1961 318 2bbl (I believe) had around 180hp. The trans DOESN'T HAVE A CLUE to how many cubes are attached to it. It only knows torque and rpms (or torque applied over rpms).
Unless they've done away with the planetary gear set ...there has been NO advancment in technology of power transmission to the rear wheels ..only in the control of application. The lockup torque converter allowed them to compensate for pathetic performance ...and not have to pay for it in the heat of a high stall TC.
Two or three speeds? What's that got to do with anything? The more speeds merely, again, compensates for pathetic or narrow range power. It has nothing to do with stoutness or reliablity. The overdrive had been used in the 1960's Caddilac and performed it's function hydraulically ..and reliably and didn't require "fast learn" or the ability to measure the cc's of fluid for each application so it could compensate for the clutch wear.
Now if they've come up with a slushbox that compares to any of the afore mentioned transmissions (C4,C6, TH350, TH400, TF 904, TF727, FMX, and even the powerglide) in reliablity and strength ..then it's a recent creation (past few years). There are a ton of cars that would still be on the road if they had them ..that are now in the junkyard.
There have been success ..the AW4, and a few others ..but for the cars that the majority of the motoring public have bought ..the autotrans is a POS. Nothing terrifies an auto owner more than trouble with their automatic. A time bomb ticking in the back of your head that takes your 100k clean beater ..and turns it into junk.
Manuals ..unless it's of poor design ..then the operator is the problem. Anyone who can't learn to shift and shift properly ...shouldn't have one. If the wear is due to hammering it ..then it's part of the cost of driving that way. Auto's don't necessarily require you to do anything nasty to them to fail.