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Type F is a friction modified fluid Ford had to use because their transmission clutch packs wouldn't hold. It's really not a viable fluid with todays materials, it's 40 year old technology that has past it's usefulness.
As I said before, I use a qt of n/d 30w with the remainder type F. The reason for the oil is trans fluid is primarily a hydraulic oil with friction modifiers, and is a poor lubricant. I use type F because I feel that it has the best friction modifier package. As to the 40 year old tech, the material on a new set clutch discs and bands for a 904/727 shouldn't be the same as what is spec'ed for a new 6 speed auto, so why would you use fluid designed for the new lining material? 
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Factory trained Slinky rewinder.........
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