First, the Ford 4R70W is designed to handle a certain amount of torque.
I think its "adequate" for the E-150 and E-250 since they're both limited to the 5.4L SOHC V8.
Once you step up to the V10 or the PSD, you will NEED the 4R100. The 4R70W is used on Crown Vics/Mustangs that pump out more than 400+ hp and torque. So its all good.
The stock oil to air transmission cooler should be adequate, when Ford installs coolers from the factory, they pick out the decent stuff.
Now on to the ATF...
Ford's Mercon-V spec is a Group III synthetic blend. ALL ATFs meeting Mercon-V spec must be at least semi-synthetic becuase that's what Mercon-V is...
However, you can use a Full Synthetic ATF such as Mobil 1 in the 4R70W. Yes i know it doesn't meet Mercon-V specs but here's why Ford required 4R70Ws after 1995 to use Mercon-V...
The shudder issue reared its ugly head because the torque converter slips in 3rd gear. If you lock out the OD and drive around, you're only accelerating the process.
Ford switched from Mercon to Mercon-V hoping to alleviate this issue - NOPE. Don't work. Mercon-V still overheats. They experimented with adding external oil coolers even on cars (my 2000 Crown Vic, civilian, came with an oil cooler from the factory. ALL 98-up Crown Vics regardless of whether they are police, taxi, or civilian all got transmission coolers).
Now in order to permanently eliminate the shudder, you need to get a chip. I can't post the URL here becuase it goes against Bob's rules. If you can email me, I'll help you out. THis guy makes chips for OBD-2 vehicles that revises the transmission protocol so that it doesn't slip in 3rd (as well as do 100 other things, like more hp, firmer shifts, etc).
With that being said, the 4R70W is an AODE with a wider gear ratio plus electronic stuff.
The AODE is an upgraded model of the AOD which originated in 1980. I have an AOD in my 1981 T-bird and a 4R70W in my 2000 Crown Vic. Both transmissions are very sturdy as LONG as you keep them healthy. That means 15k-20k transmission fluid changes, use of semi-synthetic or Full Synthetic ATF w/ external coolers (24,000 GVW or larger), and firmer shifts. The more it slips, the faster the clutches wear out. But not TOO firm!
Again, Mercon-V itself is a semi-synthetic blend. In order to exceed this spec, it has to be fully synthetic. The only Full Synthetic ATF that claims to be Mercon-V compatible is Amsoil's universal ATF.
I would recommend using a quality Mercon-V and getting the chip. Mercon-V contains some additives that makes the shifting firmer and crisper than w/ Mercon. I use Mercon-V in my 1981 AOD and it made a big difference.
Quaker STate's 4x4 semi-synthetic ATF meets Mercon, Dex 3, and Merc-V specs.
Pennzoil's Mercon-V is very good.
You can use Mobil 1 ATF and add Lubegard's Platinum or M-V supplement for a fully synthetic Mercon-V solution. I'd stick with Mercon-V and the chip though.