I did a full system flush and used Valvoline Maxlife Synthetic ATF. It's Dexon II, III and VI compatible (among many others), has excellent flow properties at low temperatures (where I live) and doesn't get cooked as easily in heat. There are some TSBs out for noisy GM power steering systems that specify a flush with Valvoline Maxlife ATF and apparently it's a good fix. Maxlife is a pretty good synthetic ATF and since I figured I'll never replace this fluid again, I figured it's worth a couple extra bucks.
http://content.valvoline.com/pdf/maxlife_atf.pdf
Power steering fluid is NOT suppose to be used where ATF is specified. It will eat seals and rubber lines if the system was not built for it. Many, if not most power steering systems do not use power steering fluid. They use ATF. Toyota specs ATF for our trucks.
Flushing is easy, you disconnect the return line and then start the truck for 5 seconds, shut it off, refill the reservoir, repeat while turning the wheel full left and right until clean stuff comes out the line. Don't let the pump run dry. The original fluid was dirty, although it looked clean in the reservoir. The ATF appears darker in the reservoir, but it's just the red dye.
I added a Wix (re-badged Filtran) power steering filter to the return line. Most power steering failures are due to particle contamination, either through fluid contamination or from wear particles from break in and/or normal wear. Catching them in the filter and magnet can't hurt. The Magnaflow brand of filters is also often used but there were so many horror stories of Chinese fake filters and filters cracking and leaking in cold temps that I went with the Wix. I've used it down to -40 without any problems.