Power steering fluid ATF or CHF11s?

So I've read everywhere that dex3 ATF is the fluid of choice for the power steering but when I get to the final word of all fluids it's CHF11s. Is it a price issues that drives people away from the CHF? The reason I raise concern is because a local old timer said that if you put in the wrong fluid into your power steering you will ruin the rack and pinion as well as other components.

All M3 E36's use DEX III not Pentosin CHF11. That is more an E90 power steering fluid. Don't mix them as you will ruin your power steering system. They are not compatable...

Well I finished the job now all I have to do is recheck the level and test drive. The only thing holding me back is I have a stripped and seized flange bolt on the exhaust. I have a ireland eng exhaust that is waiting but that last bolt is a PIA to take off

I'll do a complete write up once the test drive is done and share my experience.

Here is a list of what I had done:

1. New high Pressure hose from Pelican Parts $80
2. Feed line from reservoir to pump redone at a local "hose specialist" (will never go there again ) could of done myself for less than $10
3. Return line from reservoir to rack, Homemade less than $10
4. New PS reservoir, $21 Pelican Parts
5. New crush washers from Pelican parts, .25 each
6. SS hose clamps, .50 each
7. Valvoline Dex/Merc ATF, I bought five because I did the optimal flush with the engine running, around $5 a quart