I like to drain my oil when it is warm. Too hot and you can burn yourself if you let it run onto your hand when removing the plug. With it warm a lot of the garbage in the oil is in suspension and will drain out in the oil.
I have a 57 235" in my 49 and it takes 5 quarts. I also have a remote filter with a drop in cartridge. I just changed my oil and replaced the filter which is a Purolater L20701. Different filters take different cartridges.