Since DEX II was the ATF recommended in the 80's for GM vehicles, there have been many upgrades since, and DEX VI is now the choice of many tranny builders as it has MUCH greater tolerance to heat.
Personal experience with street and strip cars have shown excellent results as compared to any earlier fluids.
The race cars are very hard on fluid, and DEX VI can last as long as a full season compared to a few race events with other fluids.
The worst results with the different types of ATF has been when using Type F in TH400's and 200r-4's.
GM has stated it is backwards compatible with older DEX fluids.