There is much discussion on the internet regarding the cooling side of the ZF gearbox on a falcon. The OEM setup is a heat exchanger on the side of the block using coolant to cool the gearbox fluid.
The alternative is to bypass this setup and run a air/oil cooler, which sits in front of the condenser.
The reason for the many discussions around the place is the fact that the Ford OEM setup has been known to fail in a number of cars. Various polls put the failure rate somewhere around 10%. Personally i think that is an absolute worst case scenario given it hasn't made its way in to any mainstream news over the years, like the focus powershift or territory ball joints. This failure seems fairly random, with a broad range of falcons and territories being affected, however reports have become more scarce in later years. This could be due to the problem being fixed, or just the fact that the volume of cars sold was less. At this stage i haven't heard of any failures in SZ territory or later, or FGX falcon.
Given the cost of the ZF gearbox, which is rendered useless if coolant gets in it, many people have opted to bypass the factory setup in favour of an air cooled setup, thus eliminating any chance that a 'milkshake' can ever occur.
So this is basically the 2 trains of thought. bypass it and eliminate the risk, and assume that the gearbox will still operate fine, or 'run the gauntlet' as some would put it, and stick with the OEM setup.
For those who like to keep their car factory, there some steps you can take to reduce the risk. A member on another forum has suggested the failures are caused by residual casting sand in the block, finding its way into the heat exchanger and causing corrosion. I've had this confirmed by another good source also. To help with this, it is recommended to give your coolant system a good flush, fit a new heat exchanger and refill with Ford coolant at the correct concentrate level.
i priced a new heat exchanger recently and from my dealer it $477 fitted. This doesn't include a flush. They actually drain your system and re use the same coolant. You need to specify if you want a flush as well. My car has had 2 full flushes in its life, so i'm happy for them to do this with mine, knowing any casting sand would be long gone by now.
This i'm told will go a long way to making a failure 'not probable'.
Other reports suggest failures are also caused by the actual unit failing, or from electrolysis.
I believe this problem isn't as bad as what it appears due to the 'small community' that forums are. This can often make problems seem a lot worse.