Ate Type200 is the all around best brake fluid. If you want crazy performance, but with decreased longevity and higher price, Motul is the way to go. Most people I know who autocross use the type200 (used to be the superblue until the feds decided that was a nope)
But to answer your question, you can use 3,4,4+, or 5 in the system. You CANNOT use 5.1
From my many years into working on cars, I have heard that you can use dot 3, dot 4, dot 5, dot 5.1 in most systems as long as you stick with the same fluid for fill ups as well, you don't want to mixing different fluids. I stay away from any of the silicone based fluids as the silicone based stuff just habs too many issues, I have been doing dot 4 in most of my other cars, with ATE super blue being what I buy.
Now ATE super blue has been made against the law for street use, for the dumb reason that it's dyed blue. The down side is now super blue is harder to find.
The truth is a lot of people spend a lot of time arguing which is the best fluid, instead of spending time doing fluid flushes to get the old fluid that has absorbed moisture out of the air (that is what brake fluid does). Even with a cheap fluid you could have ok results if you flushed it all the time.
In my first Volvos, I put Amsoil DOT 4 fluid in it before I knew about the low viscosity spec, seemed fine after that but who knows for sure, on this new 06 Sonic blue V70R I plan on driving this bitch until the wheels fall off. With how expensive the volvo dtsct are to replace, I'm going to spend the money to buy the LV fluid for it.