I use an old rear windshield washer pump (12 V, I found in a ford station wagon at the junk yard) hooked up to a long cord and couple of alligator clips big enough to fit over the battery clamps and small tubing to pump excess oil out of the dipstick tube, works for me.
You can also do the same thing with a battery filler bulb (enema bulb) and a long piece of tubing. I use clear aquarium tubing.
Getting the plug out and finding the threads again quick can be iffy and messy.
Keeping a twelve volt pump around comes in handy. I got tired of throwing away loads of differential oil after deep water fords. Now I pump it out and then pump it back in again, if it still looks fresh and water free. You just have to get it warm before you try the pump.
Dexron is fairly cheap, I change the oil every spring, figure every 3 or 4 years it all gets replaced. The torque converter holds a bunch of oil where you can't easily get at it.