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Any idea what this might mean. Tranny is 98 E4OD with 5.4 liter 4x4. Overdrive light started flashing indicating tranny problem code sent to computer. When code was pulled, it was 1728 and said slippage. I have not noticed any problems with shifting or anything else, but the computer sensed something. This has happened twice over 5-6 thousand miles. Tranny was first serviced at 45K miles with new fluid. I don't think this has anything to do with it, but for full disclosure, Type F was used by mech vs. Mercon. A respected tranny repair shop said it definately won't hurt it as the biggest difference is the type F lacks additional synthetic lubricants to make tranny shifts softer. Further web reading suggests this is really the biggest difference.
The other MAIN reason why you use Mercron and not type F fluid is the fact that the transmission is a non service unit. If you use Mercron, you don't have to service the transmission.
There was a recall on these units, on one of the accumulator (?) rubber seals. I had a similar message and a slight 2-3 slip, and a new accumulator seal fixed it. I refilled with 14 quarts (!) of Mercron, which was by far the most expensive part of the job.
Go back to the mercron if you can. Teh reason why the trans shop will tell you to go with F is because they may save a buck or two. Mercron is like $5 a quart and they probably don't stock it.
Yes you should change your tranny fluid about every 50,000 miles or so unless you plan on selling the vehicle before you hit 100,000. The new fluid lasts longer but why in the heck would you want to try and go 200,000 miles on the same fluid. A tranny rebuild can cost upwards of $2000. Having the tranny flushed out 4 times in a 200,000 mile period cost about 300 bucks. I have flushed over a thousand new trannies and the fluid that comes out looks horrible. Its kind of like trying to go 100,000 miles on 4 oil changes. Sure it will probably make it but why in the world would you attempt it?