There is really no reason to use type F with modern friction materials. The majority of the type F transmissions I've torn down or freshened have had the bushings burned out of them. I don't recommend it to people. At the minimum I recommend Dex III napa part number 75-200, which is made by Valvoline. That fluid will still cook fairly easy in high horsepower applications, however.
Really depends on what one is trying to accomplish, and their maintenance program (or lack thereof). Some folks that race certain classes try to keep heat in, others that might make more power and/or buy more than one tech card will try to keep the temp down--which is where some of the high dollar synthetic racing fluids come in.