The other extended life stuff you're referring too is a red juice that's used full strength (it's already a 50/50 ethylene glycol/water concentration). It's good for 300,000 miles and then you add a special SCA kicker and then go another 300,000 miles. You can get it at walmart for about $7.83 a gallon (Shell Rotella extended life). This stuff is used in big rigs to cut down on cooling system maintenance. Fill and forget. I was very interested in running this stuff but I don't want to run 50% ethylene glycol and if you don't run it full strength or if you mix it with another type of coolant, the corrosion inhibitors won't last 300,000 miles anyways (I think they recommend standard change intervals if you mix it).
If you want to give it a try, you'll want to flush your system out good and then get as much water out of your system as possible. Removing a heater hose, the water pump, and the two drain plugs lets you get quite a bit out. Then you could do progressive dilutions (expensive) or find the SCA adjuster to get the corrosion inhibitors up to the proper balance if you're not starting out with 100% red juice. Yes, I know I could have just bought some of the SCA adjuster so I could run 35% red juice. At that point I just caved in to laziness and went with Havoline Dexcool at 30% and a bottle of water wetter for additional SCAs and better heat transfer / reduced cavitation. I don't need freeze protection below 0F (or below 15F for that matter).
Rick