I have read several TSBs, Ford Statements, etc. which state that you can use Mercon V backwards in anything that calls for a Ford Spec ATF, Mercon, ESP-M2C-166H, M2C-138 CJ, etc., with the exception of Ford Type F which is a different type of ATF, which mercon and mercon V cannot be used to exchange.
Ford also say that they now fill any mercon spec automatic transmission with Mercon V, as well as Power Steering now, etc.
I assume i am on the right lines with this? I mean Mercon V would have the same specifications as Mercon but just with better friction modifiers, etc. So it can furfill a Mercon application.
They have also now stopped the approval test for mercon.