I want to switch to DEXRON VI.
Is Valvoline "DEXRON VI AND MERCON LV" actually DEXRON VI, or is it a compromise between the two types?

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63 Signet / 10 inch front drums / weber 2bbl / HEI / 3.23 rear end

Looks like it's a mix, like the name suggests.

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63 Signet / 10 inch front drums / weber 2bbl / HEI / 3.23 rear end

Mercon LV is a Ford Product The LV stands for low viscosity.

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63 Plymouth Valiant Wagon

Dexron and Mercon are not the same fluid. There is some overlap between the two specs, but they are not the same. The more different specs a trans fluid claims to meet, the more skeptical you should be (and the more you should avoid it). The same goes for additives that claim to "convert" one kind of fluid into another, and fluids that claim spurious extra functions ("especially for higher-mile cars", "rejuvenates seals", etc).

Dex-VI is an excellent transmission fluid, very much better than any previous Dexron (and radically better than the antique Type-F fluid some people insist on considering an "upgrade"). There's no need to waste money on specialty boutique brands, but do pick a reliable major brand—it's often cheaper by the gallon than by the quart. You can even get it in a Mopar bottle (part № 68043742AA), though it's usually unnecessarily expensive that way.

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一期一会
Too many people who were born on third base actually believe they've hit a triple.

I ordered 2 gallons of Dexron VI fluid online at my local auto parts store and when I picked them up I saw that the label said "Dexron VI and Mercon LV".
I canceled that and got some real Dexron VI.

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63 Signet / 10 inch front drums / weber 2bbl / HEI / 3.23 rear end