Only 78K miles on my 86 K30 with the TH400 transmission. Not sure how well the PO maintained so I am looking for suggestions. Drop the pan and refill or ??
You're probably fine on just the drain and refill. They're tough as nails, but I understand your concern for the age of the fluid.
Maybe consider installing a drain plug (if it doesn't have one) on the pan while it's off for easier future drains? That's strictly optional but can make draining/refilling really easy.
I like the pan drop more than the flush. Transmission shifts pretty nice. Going into reverse is a bit rough. Lots of oil and grease on the under side of the engine and transmission though.
I had a 1968 TH400 from a Buick Electra rebuilt and put into my 1968 Skylark Convertible in about 1979. The rebuilder recommended I use Ford Type F and I have ever since. The thing shifts crisply when I treat it gently and snaps my neck when I lean on it.
FWIW, I should have gone with a TH350...the gear ratios are more compatible with the 350-4bbl engine.