My 4speed auto is completely different than yours, but it called for T-IV, I changed it at 40,000 miles, and ever since I had it (even before that cange) it had an occasional studder in the 1->2 shift. At 60,000 I changed over to M1 (new recommended for T-IV formula) and still had it once or twice, but not since about 100 miles in. So, in my experience it did better than T-IV in a Toyota tranny that called for T-IV.
I guess yes, but really you probably won't notice a big difference. The specs are very similar. I'll probably stick with M1 from here out.