I have run the Magnefine filter in the cooler line in 2 vehicles.
I had one on my '96 FORD Windstar for years.
The Magnefine has a "nominal" filtration rating down to 30 microns, the best of the in pan filters go to about 80 microns.
So the Magnefine is a real plus.
I would also go with the 30K mile normal service, 21K miles "severe" service interval.
I used to use Mobil 1 ATF, which worked very well, and then was using Redline D4 ATF, which also worked very well.
FORD has discontinued the Mercon licensing and now recommends Mercon V in all former Mercon applications.
This recommendation REPLACES all former statements saying NOT to use Mercon V in in Mercon applications.
So, feel safe using Mercon V rated ATF.
Synthetic is a plus, better cold weather performance and better heat tolerance.
If a transmission has gone well beyond the 30K mile interval for a fluid change, the first fluid change may get darker sooner than expected as the new fluid may pick up particles left from the old fluid.
In this case, a fluid change much earlier than the 30K mile interval for that first fill would be a very good idea.
As for how to do the fluid change, I would recommend doing a "cooler line" fluid exchange.
The cooler line method is what FORD recommends for this transmission (at least in the windstar).
If you do a cooler line fluid exchange (changing ALL the fluid), you don't need to remove the pan and change the filter every time......at most every other time, but even that would be overkill with the magnafine filter in the cooler line.
Total fluid capacity for the AX4S transmission in the '96 Windstar is 12.25 quarts.
I would have a couple extra quarts on hand "just in case", spillage, drained more than you expected to, etc.
Here is a link to a series of pictures that show the cooler line fluid exchange, along with the removal of the pan and changing of the filter.
Again, I changed the filter every OTHER time, which was overkill.
I was changing the fluid once a year, which was 15K-20K miles.
Minivans are harder on their transmissions than cars are with the SAME transmission.
http://rides.webshots.com/photo/1503284711011220610kYSGCI