The SL controls the torque converter lockup. Basically when the TC locks it behaves like a manual transmission with a clutch and power is no longer lost moving through the torque converter. You will only notice the RPMs drop about one or two hundred but shouldd definately feel a differnce in the gas pedal when you try to accelerate with it locked up. The vehicle speed will increase directly in proportion to the engine speed, instead of a small increase in rpms then an increse in vehicle speed.
You may not notice all this happening until you look for it though, most people don't
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Originally Posted by Tony the Tiger
I mod my Camry because I am too cheap to go out and buy a real sports car 
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1992 Camry XLE v6: p&p + 3angle, CAI, y pipe, K-Sport coilovers, 5-speed swap
1996 Eagle Talon TSI AWD: IPT 3700 restall, DSMlink v3, HKS exhaust, ETS street fmic kit