I'll go out on a limb and say this probably isn't your trans failing. However, we'll wait for the report on that code. As previously stated, the code might only be related to the shift indicator being misaligned, which is potentially curable by a shift cable adjustment or repair of broken wires.
My '97 SE could never break the tires loose from a standstill, so I wouldn't be too worried about that. You have a taller final drive than a Grand Prix, so you can't necessarily compare the acceleration capapbilities of each car.