Merc 5 is synthetic and doesn't break down the way the older stuff did.
Read this "thesis" on Fords 4R70W tranny. It'll take you a while, but it'll teach you just about everything you will want to know about the tranny. You'll be a much wiser Ford owner after you are done. It was writted by Jerry W., an engineer who helped develop the 4R70W, and who now works for Roush Racing.
http://www.tccoa.com/articles/tranny/index.html
Click on: Ford OD Transmissions 101 - Jerry's mod
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'97 T-bird LX 4.6L 2V, auto
SVO heads/intake, Vortech T-trim, front mounted intercooler, blower cams, Cobra crank, Manley H-beam rods, JE pistons, Aeromotive fuel system w/ 42# injectors, and much more
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