Some thoughts on ****** fluid I've picked up over the years: cast iron Ford-O-Matics until the early or mid '60's, I believe, used bronze friction plates in the clutches...around the time the C4 and C6's came out and Type F also. Type F had different friction characteristics than Dexron (formerly Type A)..."more slippery"....
That makes a lot of sense & mostly what I have heard too, altho' I hadn't heard about the sperm whale oil part. Not surprising though.
Just a brief FYI - Typically, Ford's first 2 digits in their old-style numbering system usually were first year into production or engineering design, fr'instance - a new part in '64 would've been something like C4AZ1234A, something in 1958 would've been like B8AZ1234A, etc. It's confusing cuz the #s don't always follow this logic but that's another story.
So... the C4 trannies intro'd about 1964, and C6s about '66.
Another rule of thumb some of the experienced dealership trans guys told me years ago was they'd use Type A (Dexron) in a rebuilt transmission, no matter what type trans. And make sure to indicate it on the dipstick, what type fluid was being used.
Not being a mechanic, maybe someone else can chime in on this? I just know that being a parts guy, we sold LOTS of Dexron/Type A fluid - much more than Type F; that was in the early&mid 70s.
I'm not sure but I think they did it cuz the Dexron was slicker and probably provided a smoother upshift than Type F.
Ron