the ECT is very nice - no drama, no shift shock - and convertor lockup only when the engine warms up, it also reacts a lot faster to kickdown as the shift solenoids determine the gear, It can directly shift to 2 from O/D given the right circumstances. If your ECU has a pwr/eco mode switch then you can also use that to hang onto gears for longer. This gives you maximum acceleration.
The wiring for the ECT trans is a bit fiddly, the ECU controls 3 solenoids in the transmission to shift all gears the O/D button goes to the ECU, the speed sensor is vital for correct operation and should go to the ECU - some ECUs may have 2 spd sensor inputs (one from trans, one from dash) - most probably the trans you find has a speed sensor where the governor usually is. To identify an ECT transmission at the junkyard, look inside the wiring connector on top of the oil sump - it should have 3 wires, if it has 2 wires then its a full hydraulic transmission. The two wires are for O/D disengage.
The other bit that you MAY see in an ECT transmission is that speed sensor I told you.
If you do put in a 7AFE with ECT and put on CNG or something that involves fiddling with the throttle - then be very careful the position of the throttle position sensor is what dictates when the transmission shifts. Mechanics may tell you its the kickdown cable and start to mess with it - STOP THEM - that cable is only for tuning the aggression of the shift.
The later ECT transmissions like in the cowrollas have ommited the cable - the entire job is now done electronically, The concept and working is the same except it uses 2 solenoids to control the lockup (hence tune shift shock) - which is why toyota came up with T4 fluid as it can handle partial lockup heat load.