Torque Converter or IACV?
 

OK, here is the scenario: Start the 1992 Camry, runs smooth. Put it into reverse and move car, all is as it should be. Put it into drive and it immediately stalls. You can go forward if you are giving it a lot of throttle. It will buck and then settle as it gains speed. Stop and it immediately dies like a manual trans would if you do not put in the clutch. To me it acts like the converter is locking as soon as it is placed in drive but not reverse. Any ides, trouble shooting pointers or advice would be appreciated. Thanks. Dan

The IACV valve controls idle, once the throttle is above idle setting it should not effect driving ability.

The IACV is designed to compensate for the load (by increasing idle) when the trans is shifted into a gear.

The converter should only lock up at speeds above say 40 mph and engine coolant hot.

It is possible the converter lock up clutch is bad resulting in lock up a lower speeds or constantly. This would result in a much lower gearing and the symptoms you are having. This happens and requires converter replacement.

The converter lockup clutch is activated by hydraulic pressure.

A electrical solenoid valve (called SL or E) turns the O/D system on and off. Try manually turning the system off using the button on the shifter.

The electrical solenoid valve is accessible from outside the trans and is located in the area where the trans shift cable attaches to the trans. The valve should be closed when not powered. When open hydraulic pressure can bleed allowing the relay valve to work.

It is possible the relay valve located inside the shift body that controls pressure to the converter lockup clutch is stuck open.

What is the fluid condition, if dirty might change all the fluid.