Verified answer

I wouldn’t doubt there are recipes that use condensed milk, but everyone I’ve seen and everyone I’ve made whole milk and whipping cream.

I have always used whole milk and heavy whipping cream. 

Never heard of using condensed milk, it's too heavy.

You use a recipe and follow it.

There are recipes for both. So...You follow the recipe that you are using.  If it calls for Whole milk you use Whole milk, if it calls for Sweetened Condensed milk you use that. 

There needs to be a balance between the fat and the "water" content in ice cream to much fat and it will have a greasy mouth feel, to little and it will be firmer more like ice crystals. 

Dad makes it with full fat

I'd do what the recipe says to do.