I have always understood that it is best to drive a Falcon in "third" at speeds less than 80 km/h and towing only in "third". Would you recommend simply driving in "Drive" regardless of speed or towing and let the transmission "sort it all out"?
You should drive according to the conditions. If the going is flat it's ok to leave it in Drive, but pull it back into a lower gear in hilly terrain. If in doubt consult the owner's manual.
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