As all the above, on the ZF it has been quoted that Dexron III is suitable, it is even an equivalent fluid.....that being said, the use of DexIII means you will need to change the fluid more regularly as the LT fluid is a long life fluid....
Knowing that my gearbox is on its way out, I chose to do an experiment.....I have done too fluid changes and used DexIII both times. She runs fine (aside from the TQ judder which was there before) but I have noticed that the box will tell you when it is due a fluid change.....shifts get jerkier and it sometimes judders a bit pulling away.....change the fluid and all is well again......first fill lasted about 8 months, and I am now just over 4 weeks since the last change.
Cost wise, the LT fluid is more expensive, but should last you 3/4 times as long....so DexIII could be false economy.
I will always continue to recommend LT fluid to others though.....not becase I am a hypocrite, but more because I know my box is on its last legs, and will need to be changed out, so what the hell......
But in the GM5 box you MUST use the correct Texaco fluid.....and nowt else.