Bought when I turned 16 in 2008 with 67,000 miles on it, 3 years later have 122,000 with all scheduled maintenance. Front suspension is nearly gone, replaced slave cylinder at 71K, shorted plug wires on valve covers at 73K, replaced rear bumper mounts at 75K, cracked the lower manifold at 94K, 95K lost the throwout bearing, 104K had ECU problems, syncros in the tranny are going...poor engineering. Truck does not have any power for passing and barely gets 15 mpg on the highway. Engine is low on torque and unreliable. Don't think I'll ever buy another Ford after this one. Only used to get to and from high school and college and work.
Buy a 3/4 ton GM or Dodge diesel if your running nothing but highway, the truck will pay for it's self in fuel savings after 50K miles due to the 20-28 mpg mileage the vehicles get. My only suggested improvement is to bring the pre-97 models back out.