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its up to you. i use 75w140 in mine. it takes 3 quarts. i would consider the use of syn in a diff because you only have to change it every 50,000 miles or so. i would go with a oil that promotes seal swell like royal purple. it will prevent leaks and recondition old seals.
70 F 100, If you have an open differential, Gas hog is correct. If you have a traction lock differential....make sure to get the required additive or you will burn the clutches up.
Doc
70, In our older trucks straight 90wt is all that is required, if ya want to spend the extra coppers for synthetic go ahead, it's generally considered a better product.
Open rears are one wheel pull, generally what 99% of all trucks have. LS has the ability for both wheels pulling after the pulling wheel slips.
Someone will be along shortly with a better answer, I'm sure.
70 F100,
Look at the tag on your rear end. There will be studs that hold the 3rd member in the housing. The tag should be located on the driver's side. On the tag there will be 2 rows of numbers. Look at the bottom row nearest to the stud. The first few numbers will tell you the gear ratio and if the axle is open or locking. If your truck has something like 3.25, then it has 3.25 gears and is open. If it says 3L25, then it has 3.25 gears and is a traction loc rear axle.
Doc
if you need a good bench vise check out www.grizzly.com i have 3 of there 6'' ones and they are massive and are only about 60.00 each they weigh 70 lbs each. but are great and durable.