I was reading old forum topics and realized that many concerned high oil consumption and the loss of power in 4.6's with over 100,000 miles. I'm a college student(mechanical engineer), I can't afford heavy repairs and quick fixes that don't work. I do all the maintenance on my truck(which is the only machine I trust and has been through hell and back) from my personal experience the first thing people need to realize is that nothing besides an overhaul and/or rebuild is gonna make that engine new again...parts wear out...The best thing to do for high mileage engines is to use a mainstream, name brand, high mileage oil(5w-30 for 99 f150 4.6's) change it frequently, and make sure everything is lubed properly and the air filter is clean (PCV valve also). I put 1000 miles on my truck each month, sometimes more, i have yet to have problems with my engine. Preventative maintenance is worth its weight in gold, a dollar spent on maintenance is worth 10 paid in repairs.
I have found that the way you drive it is directly related to how it holds up. Knock on wood here: I have had my truck 6 1/2 years, 78k miles, and it has NEVER been in the shop for a repair. I change the oil every 6k, (Castrol Syntec), had the tranny flushed and filled @ 50k, and drive easy. This coming from a former "bat out of hell" driver. Funny how as I got older, and started driving decently, the vehicles held up better. Related?; me thinks so. I need to change the fuel filter, and flush the radiator. Other than that I want a programmer. Can't choose between Edge (the one that most everybody here recommends), or a Diablo that a co-worker has on his '02 Harley that he's putting cogged belts and pulleys to get more boost out of. He says that's what his Harley Owners Assn recommends. I'm torn. Thanks, I got a little off topic, but any truck lover can understand that, right??? Thanks, good luck, BT.