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UPDATED with the end result. Replacing a Ford 5.4 in a 2005 F150

That is a peach of a truck. I totalled my father's 2002 Ram Quad cab. I was the nice 20 inch wheel job with infinity sound system, lite step rails, spray in bed liner, big shield and window vent covers. Insurance gave me 8,000 for it. I looked at I know 2000 trucks for a month and the same truck with the same miles were selling for 15,000. Insanity! So yeah you did the right thing. You wouldn't be able to go out and buy one just like it off the lot for what you have in it. Plus you know the history of that truck and it looks like a dandy. I have a 2004 standard can, GMC Sierra SLE 4×4 and the inside and out looks like brand new. Right now has 82,000 original miles. I bought it off a 80 + year old man. Drives like a new on.
 

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You'll be happy if you keep it and use it, especially compared to buying new or recent used. You may be disappointed if you try to flip it.
 
I have a 2004 F150 Lariat 4 door With the 5.4 3 valve engine. I bought it in 2012 knowing it had a bad motor. It ran, i drove it about 5 miles just so I could hear the engine run under a load etc. I had it toed home, pulled the motor out, (many people say you have to take the cab off to get the engine out but that is not true) I tore it down sent the block, heads, crankshaft, pistons & rods and both camshafts to a reputable automotive machine shop in Rome. They vatted everything, honed and checked the cylinders for wear, checked the crankshaft for wear and polished it. Magbafluxed rge block and heads to check for crack(s), ordered new rings, main and rod bearings, oil pump, strainer, timing set, did a head job on both heads an a new gasket set. I rebuilt it and installed new cam phasers, variable cam timing solenoids plugs, and coil packs.then installed it. mileage was 144,517 at that time. It now has 266,441 miles. Only thing I have had to do was replace the coil pack on #3 cylinder about 2years ago. I do have the transmission flush every 60 thousand miles and I change the engine oil and filter every 3000 miles with 5-w-20 synthetic blend oil (7 quarts) that is the key to keeping thy hydraulic cam phaser solenoids from clogging and going out. Still runs like new, uses no oil, leaks no oil or anthing else. So take it from me first hand, YOU DID NOT GO WRONG. Was it easy to pull and reinstall the engine? Not really easy, but not all that hard either. I have pulled worse. Mainly tight fitting coming out and going crack in. Would I do it again? Absolutely. I also have a 2001 Chevy Silverado 4 door 2500 H D with the Duramax turbo diesel, 256,387 miles, now that is going to be a nightmare if I ever have to pull it out.
 
CarWizard (on youtube) talks about the 3V and he always does brand new engines from a couple of vendors. He has several videos on it.

Hope you get it fixed, but I think its going to run you a good bit but cheaper than a new truck.
 
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