Bit late now, but use Ford spec TQF fluid. Dexron II and III may cause slippage, as the TQF is formulated for more grip (less slippage) in the clutch plates and bands. Some transmissions have a drain plug in the torque converter as well if you want the full flush. Bands can be adjusted by tightening them until quite firm (they are like brake shoes except they wrap around the outside of the drums) and then backing them off the specified amount of turns - no need for a special tension wrench! Replace the filter, clean the pan, replace the gasket, top up, start engine and run through the gears and check level once more. Road test and recheck level.
While there, check the vacuum hose on the modulator valve - replace if cracked/leaking. Replace the modulator valve if it's leaking fluid. Some modulator valves have a small adjustment screw in the vacuum hole - adjusting it in or out will change the point at where the gears change. You cannot wreck anything, so have a go if it's there. Also, there is a kick-down rod linkage from the transmission to the carburettor - the rod is correctly adjusted when it's pushed downwards at full throttle. Too loose, and it won't kick down. To tight, and it'll kick down too easily.
