This subject has received a post-mortem beating on multiple occasions :deadhorse:, so search a bit and you will find lots of opinions with little data/science.
The reality is that most any cooler is fine, the 2 B&M models being the most popular, the 4454 also being very popular, and all of them are just fine. Some people make a big to-do about the 70264 vs the 70268, but both are better than nothing, and both are better than a milkshake. For my 2 cents, I used the 70268 and have pretty low tranny temps all year round.
4Runner4TW is absolutely right though, the one factor that I think can actually make a significant difference here is the install. Read the B&M instructions (on their website), or do your own research, and you will find that most every reputable source say that you should mount the cooler either both outlets facing up, or the fluid flow entering the cooler at the bottom, exiting at the top (never both facing down, despite the fact that Ford apparently installed a bunch like this back in the day...). This allows the entire cooler to fill up and achieve maximum cooling rather than trapping a big air pocket in the cooler.
Don't worry too much about hype and opinions, it's just a cooler. Install it right and it'll do the job. If you haven't already, you might consider picking up a scangauge or similar that will allow to monitor the tranny temps real time, so you can see if you are overloading it on your drive.