Ultrafast ultrasound localization microscopy (ULM), which has shown promising results in microvascular imaging, overcomes the typical trade-off between resolution and penetration depth. Combining ultrasound contrast agents and high frame rate imaging enables ULM to visualize microvasculature and quantify flow. However, the quality of the microvascular maps obtained depends on the signal-to-noise ratio of the received signals, image reconstruction techniques, and the microbubble (MB) localization and tracking algorithms used. Most reported research in ULM employs the conventional delay and sum (DAS) beamforming technique for image reconstruction despite its limited contrast and resolution. In this work, a filtered delay multiply and sum (F-DMAS) beamforming approach with non-steered plane wave transmit was employed for ULM, and its performance was compared with the conventional DAS-based approach for the different localization algorithms available in the Localization and Tracking Toolbox for Ultrasound Localization Microscopy. We also introduce two novel image quality measures that can overcome the limitations of conventional quality metrics that require suitable targets for evaluation. We also report the preliminary in-vitro investigation of F-DMAS with B-mode and power Doppler maps for microvascular imaging. The results are promising with enhanced contrast and lateral resolution, and suggest that further experimental studies are warranted.