I am the second owner of my truck. Bought at 100k miles in 2007 and now has 224k on odometer but closer to 230k miles since I have had over sized tires since purchased. Only had one problem, the master window switch went out, other than that just basic maintenance items. Motor and tranny are original (5.4L V8 & 4 Speed Auto). It's seen a lot of dirt and towing miles and she has performed flawlessly. It's comfortable to drive for long trips. If you keep up the basic maintenance, it'll keep you on the road. Couldn't ask for a better truck!
I bought my '99 F150 5.4l used with 48k. I have had it in the shop 2x - bad coil and a bad idler sensor. It now has 130 k miles and I am still pleased. What I like most is that it is comfortable to drive, and drives well. I also like the drive mode selector on the dash, it goes from 4x2 to 4x4 immediately; it's saved me in mid-fish tail a couple of times. Also whether 4x4 low or 4x4 high, when engaged in the front axle is locked in; both wheels are turning all the time, I've seen enough to know GM uses an open front axle by default in 4x4 high; good for driving on wet roads, bad for poor traction situations. I'll get another one when this one needs replacing.
I bought the 2001 XLT, 2WD, 4.2, 5 speed in 2004. It's now 2017 and this truck still runs like a clock at 190k miles. The only thing I have ever done is change the oil, and air filter, plus other regular maintenance. This truck owes me nothing, and has paid for itself. I did put new plugs in it at around 100k , new ball joints and all tie rod ends in at around 150k. I get 15mpg city, and 19mpg highway. It is starting to look old-school, so, I priced new trucks, but they offer the same fuel mileage. I have decided to keep what I have paid-off years ago, it only costs me fuel and nickel-and-dime maintenance. The engine and 5speed manual tranny sound like they are new still. The headlights are starting to fog over after 16 years, so I'm going to have to spend $38 on a restore kit. I know that tomorrow I can jump in this truck and drive across the country if I had to, and there would be no issues.
I use my F150 for work to haul my boat as I am a fishing guide. It is a well built truck that very adequately tows. The only complaint that I have in towing is that the engine can use more low end torque. This is due in part to the fact that it is a SOHC engine versus a pushrod design which is known to have much stronger low end torque. The ride and handling is first rate. The quality of components and their assembly is far superior to the domestic competition and the ruggedness, durability, and beefy frame and suspension makes you realize that the Japanese trucks really fall short in these key areas in comparison. Ford trucks continue to be the best built trucks on the road today.