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I put Redline's MTL in my 83 244 with M46/OD about 5 yrs ago (when I was living in Calgary)- it's still in there and I now live in Southern Calif. Instant improvement in shift smoothness and effort. When the really cold weather came, shift effort was a lot LESS than with ATF. My final observation was that after driving at highway speeds in warm weather, the OD was less prone to shuddering and trying to disengage when the speed dropped down to about 70km/h (42mph).
Here's what I concluded: the MTL does indeed have better frictional characteristics for the synchronizers; its viscosity seems to be less temperature sensitive - it doesn't get as thick at low temps, or as thin at high temps, as ATF. Plus if you believe the Redline literature, it has superior anti-wear additives for manual gearboxes compared to ATF. I know the OD needs a seal kit, but the MTL has bought me a lot of time on that. Make sure you get their lighter grade MTL, they make another heavier grade not suitable for the M46. I also put their rear axle gear oil (70W90?? - can't remember) in and observed less "stiffness" of the car rolling out of the driveway after parking all night in -30C.
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