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What type transmission fluid should I be using? I started significant driving about a week ago. Approximately 125 miles driven in 5 days driving. Its spewing fluid, over 2 gallons put in over that time. I have a re-builder lined-up but that's 2 - 3 weeks out. I've been using DEX/MERC. Don't remember where I got that from.

Type F is what was suggested for years as the modern fluid most equivalent to the original type A Packard specified.

With the leak and needing a constant top off, since you have a rebuild coming up so soon almost any trans fluid should be OK because it sounds like it will not be able to stay in the trans very long. I would opt for some of the Walmart or dollar store generic Type F or the equivalent of what you are using now. Whatever you can find that is relatively inexpensive but still of somewhat decent quality should be fine.

Once you have the trans rebuilt then what is used should be suggested by the rebuilder. If he does a complete rebuild then it depends on what type friction plates he installed. If he just replaces seals and the old cork friction plates stay in service then I would go to type F or a modern combo fluid that works for older Ford trans. Trick Shift has been recommended for old hard cork direct drive clutches as it seems to quieten them a little bit. Much more expensive than type F or the Dexron blends though.

Spewing oil like that will endanger other motorists, especially motorcyclists.

If the speedometer gear is on backwards the trans will dump oil all over the place.

It would be a very small but nevertheless welcome treat for the environment if you could lay the car up until your date with the transmission shop.