Ford has a history of transmission issues.
They even have a warning against using certain OEM fluids within certain dates.
Motorcraft RED bottle MerconV is different than Motorcraft black bottle MerconV.
I guess when the OEM is trying to get the cheapest fluid for a given spec, sometimes sh!t happens.
According to the Ford transmission fluid chart, the 1997 and older 4r70w takes Mercon and not MerconV.
The 1998 and newer 4r70w takes Mercon-V.
The 4R100 uses Mercon.
The benefits of Mercon-V over Mercon are shudder control, smoother shifts, better hot/cold performance.
The problem with MerconV in a Mercon transmission is the "less shudder/smoother shift" part, which can lead to transmission slipping. If the Mercon transmission is tired(worn out) or being stressed(towing/racing), it could slip which leads to burnt clutches/bands, high temps, and a toasted transmission.
I find that MerconV works better then Mercon in any application(even the 4R100). But, if there is any slipping, swap fluids back or upgrade the valvebody!
For a normally driven soccer mom SUV, the Mercon-V is a better choice.
So, Wavinwayne, definitely use the Mobil-1 ATF. Its an excellent fluid(usually smoother then DexIII) without the possible risk of slippage of certain Mercon-V's. Sorry, I misunderstood your 1st post and thought that you required Mercon-V.
Robbobster, since you have the VB upgrade, any DexronIII, Mercon, or Mercon-V will work since you addressed the weakness in the transmission with the shift kit!