Looks like the OD direct snap ring as stated earlier... The only thing you'll lose when it finally goes is reverse, so it should get you home. Looks like it wasn't replaced on the rebuild, which is kinda ridiculous since it's only $5.
As for the Hy-Gard, if you are running straight Hy-Gard then yes, you will see about 200rpm reduction, but I do hope you are running a brass screen type filter. Being in Florida will be the only thing to save your arse from starving it for fluid in the cold. But if your filter starts to get clogged up at all it will have issues pulling fluid. Now Low Viscosity Hy-Gard on the other hand seems to perform just fine in cold climates with standard filters and still lowers stall a touch while firming up shifts under throttle.