For the 2nd time now I have had code Solenoid Circuit P0740 Torque converter clutch come up on my scanner... Both times it has happened on my way home from Fishing while towing my boat. I haven't heard or felt any sudden changes in my rpms or the shifting of the transmission. Any insight is greatly appreciated!

 

I've driven my 2000 WJ for 6 years with that light on for most of the time. All the torque converter lock-up does is reduce engine rpm by around 200 rpm when you're in top gear. What the lock-up is designed to do is eliminate slippage in the torque converter to reduce heat and increase fuel mileage, although I question the fuel mileage. To me, the engine seems to lug in top gear with the clutch engaged and runs much better without it, especially with a load or pulling up hills without downshifting. I'm tempted to install a converter clutch bypass switch on my XJ and clear the code when it pops up.