OK guys!
it seems like the problem is now resolved!!!
first- i took the entire throttle body apart. cleaned everything thoroughly.
especially the IAC which was dirty as hell.
second- I've replaced the thermostat, which looks to me like it never been replaced since the car went out from Detroit... (approx. 14 yrs.)
third- I've added the BG ATC (Automatic Transmission Conditioner).
now everything seems working just fine! the idle is reached very quickly, the car has returned some horses to the engine, and the tranny won't knock! the gears are shifted very softly.
bottom line- I'm H A P P Y ! ! !
Thanks!