One thing to think about not only are we looking for clutch bite we need to look for lubrication. All of the planetaries need lube to save the gears and the spacers between them. For longevity of the geartrain 5w-20 would be good, but not sure of the clutches in a high HP application.
Cold motor oil in slip-a-matic transmissions = hard shifts & blown seals, also the detergents in motor oils make for major problems.