PS - I meant to go into more detail about why I recommended MaxLife - that or any high-quality FULL synthetic.
The last two Toyota transmissions I worked on, I could only get out 25-28% of the total fluid volume via draining. Some other types (GM unit in my Acura, for example), I can get 50% out at once. Thus, I can't replace as much fluid if I only drain/fill. So I would like to use the most stable, longest-lasting fluid in that application that I can. Either that, or go to much more frequent drain/fill intervals.
Here's a good how-to on a prior Corolla, yours is likely the same. This is the preferred method (full dump via cooler line):
http://www.toyotanation.com/forum/132-9t...eplacement.html
Now let me clarify my statement, "If I were you...". What I meant was, if I were doing ONLY a drain/fill, I'd skip the dropping/filter. But if I WERE you, I would flush it all out and fill with a good full synthetic.
PPS - if you do the flush technique, or just have the car on jacks, it's a great time to do the PS system, too. I do it same as atf, every 30k so do them together. Have a few quarts extra ATF and do it the right way, also:
http://www.toyotanation.com/forum/107-ca...ice-needed.html