I love this truck. It has 209,000 miles on it and the 5.4L and trany are as strong as ever. The rear axel seal went out and I ended up buring up the gears in the differentail "my fault". The control arm bushings need to be replaced, which I hear are notorious to start making noises in all fords. Other than that not a problem with it. Every mechanic I have talked to say that so long as you keep it maintained, It will last to 300,000 miles+. My next truck I get will be a Ford F150.
Reliability. Comfertable ride. and great towing capacity.
The back seat area could be a little more roomier. Lift it a little higher and put larger wheels and tires on it.