guiltyox, you described what I've been experiencing for quite some time (6mo+) in my GP SE. There are two reasons: Pressure Control Solenoid is bad or, as you guessed, seals. If you have someone fix it, it's going to cost you. I have a spare car, so I'm not too worried if it pukes. However, I also have eventual dreams of doing a L67 swap, so I'm in no hurry to have a rebuild.
Edit: Filter is about $12, and Castrol Dexron III is around $35 for 7 quarts.
_________________________
'13 Mustang 3.7V6 - MT82
'00 GP SE (L67 Swap, XP, Headers, 3.25")
'98 GTP, '01 Bonne