This may offend some people that own and use the 5-disk Vigilante converter, but I will give our bad personal experiences with this converter.
My first encounter with one was in 1999 when a friend's GN had his converter lock up and would not release, like a manual clutch car that is not releasing. This happened on a few other GN's I worked on as well.
The first time we encountered the thrust problem was on Dick Kereny's GN before he was running
TSM and using a 200-R4. When we re-installed the freshened engine, we found very little clearance between the flexplate and converter.
After a few discussions with the owner of Precision with him trying to convince us it would not be a problem, we removed the converter as it was not worth the risk of damaging another thrust bearing. We also had to replace the front pump in the trans since there was a mod done for this converter
We have had only 3 other customers destroy the thrust bearing, and all used this converter.
Out of 600+ plus engines we have done locally and sent all over the country and Canada, no others have had thrust issues.
On the 3 returned engines we could easily tell is was the converter at issue since there would be a tell-tale purple ring about 6" in diameter on the flexplate from the converter pushing hard on it and the crank.
My opinion is that with normal street driving, this converter may not be a problem, but I am not willing to take that chance? My son recently bought a GN with that converter, and I would not let him drive it until we changed the converter as we had just installed a fresh engine.
The cars I described were low 11 and 10 sec. cars that would also see more RPM and HP than normally on street cars.
As Mike stated, his friend took out the thrust twice using this converter, and he does race his GN.