I once had an F150 and twice the front drivers caliper hung up (several years apart). Both times it felt as though the emergency brake was on. The eventual give-away was the smell as it got Very Hot. The second time it cost me rotors as well.
Just wanted to add how happy I have been with my '03! Just checking out all the comments on the V-10 and just wanted to post that it just turned 200,000 miles last month and I have yet to have a mojor problem yet. I have pulled my 37' 5er 10500+ with no serious issues numerous times. I have kept the servicing on par with the owners manual since I bought it in 2008 with 66,000 miles on it. This truck and V-10 is an awesome piece of work! I will agree that the 4:30 gearing is a must (that being my next upgrade) since my truck does have to work extra hard for those big hills. 3:73's are terrible. I have the Banks Power exhaust and intake so far, but looking at all the comments, looks like I will be getting the 5STAR tuning after the header/y-pipe upgrade. I can't wait to experience the difference! Just the Banks Stinger upgrade made a world of difference! I get about 12-14 mpg on my daily commute, 15-16mpg on long interstate trips, and about 8-9 while towing.