The rusty gland nut on the right in the pic is indeed for a T-1 auto-stick and if I remember correctly it is also for a T-3 fully automatic. The other nut is a 4 speed only. If you have your engine out, make sure that your torque converter" stays put" You can turn the conv. and push in at the same time to be sure its "bottom out"
A little tip here . When you install your engine, start all your torque converter bolts loosely then tighten them up. These bolts can cross thread with ease. DON'T DROP THEM IN THE BELL HOUSING. You can't get them out without pulling the engine back out. Before I had the "real McCoy" 8mm magnectic socket, I use body calk on a plain 8 mm socket.
You just about could not start the bolts with your fingers. At least I couldn't and I have long fingers. "holler back" if you get in trouble.