Have 97 z-71 that the 4l60e has died in. Have a 700r4 could put in place of but not sure if the elecronics will work out OK. Any help would be greatly appreciated.  

Nothing is really going to be gained with this swap. The 4L60 is basically a 700R4 with a electronic valve body. Using a 700R4 will confuse ECM and cause it to error code.  I think you need to replace it with another 4L60 and look at your axle gear ratios. Most 700R4 and 4L60's that die a early death do so because tire/gear ratio combo is too tall and tranny slow bakes riding torque converter a lot. If you have 31's you want about 4.10 minimum, with 33's a 4.56 is good and 35's, a 4.88 if you want long tranny life. Do not let the numbers like 4.88 scare you because even a 4.88 looks like a 3.42 in OD and cruise nicely. They was a time when 4x4 came standard with 4.10's and no OD.