I haven't been inside a 4L85-E tranny (yet), but practically all Hydramatics have a flat, square or flat, round magnet in the pan, not on the drain plug. I just yesterday replaced the filter and drain plug on a 4L60-E in an '01 Silverado. No magnet on the plug, but there was the ever present magnet in the pan.
It's been a while since I changed the oil in my 8100, so I don't remember if the oil drain plug is magnetic.
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Jim & Linda '03 Winnebago Adventurer 35U (W22) '06 Saturn Vue Toad
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