If it's a driver, I can't see why you'd want type F. The best in 50's technology can probably be improved on.

Even ford guys stopped using it in 79.

In the same breath, the 727 isn't cutting edge either, so it is pretty forgiving with whatever fluid you want.

For me, I know modern transmissions put MUCH bigger demands on the fluid, as far as heat etc.. That said, modern fluids have to take up the slack.

Much Like 383 man, I work at a dealership (fordstore for me though) and get the fluid for a pretty good deal. I use mercon 3/dexron 3 curently, but we don't sell it anymore. Replaced with mercon 5, so that's what'll be in the car this year.

If money is a factor, a 20 litre/5 gallon pail of dexron 3 is pretty cheap at walmart.