on the highway at 70 and my rpms are at almost 5?
If the ring and pinion gears have been changed you could see this....otherwise your AOD is never shifting into overdrive.
the OD shifts so hard and when I'm cruising and let go of the gas then accelerate the trans takes a while to shift and go?
These transmissions do NOT use electronics to determine shift point and internal hydraulic pressures. They also do not use engine vacuum to determine engine load. These transmissions use feedback by linkage or cable (cable in your case) to tell the transmission how hard you are pushing the engine. This is done by a cable connected to the throttle body and it follows FULL stroke of the throttle
In Fords infinite cheap ass wisdom, they used a plastic bushing for the feedback cable to attach to the throttle body linkage.
So what happens when the bushing breaks apart and the end of the throttle feedback cable falls out?
If the cable falls out at the idle or low throttle position and stays there, very little transmission internal hydraulic pressure is applied inside the transmission. The transmission will shift early also. If you apply any horsepower at all to a transmission in this condition it will slip the bands and clutches and burn them up.
If the cable falls out near the full throttle position and stays there, The internal transmission hydraulic pressure is very high. Your transmission will shift late and hard and will never go into overdrive.
Aftermarket makes a brass or bronze Bushing to replace their poorly engineered plastic version that have cost the public untold millions in transmission repair.