1970..? is the oval on a later pan or did you get a new car?
what's in there now? imho, i'd stick with it. it's probably dot3...which is fine. i'd reccomend a good long flush, bleed (if the system is opened) and inspection of all soft & hard lines, aswell as the master cylinder & wheel cylinders while you're at it.
ftr...stay away from dot 5. it doesnt play well with the other dots.
