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I just finished completely rebuilding a quadratrac this weekend and also installed the parttime kit with a new chain. You use regular ATF fluid, the chain is stout, and the case is pretty strong. The QT was put behind 360 and 401 motors. You won't have any problems other than maybe the vacumm actuator everntually wearing out.
I have a t400 and quadtrack from a Waggy includes crosmember vacume valve and front driveshaft that I'd sell for 300. I never used them but was told they had about 40k miles, been sitting around forever (project that was aborted), which looks reasonable for thier condition.