I bought my 04 with the 5R55E about 3 weeks ago (31K miles). During the test drive I did notice hard shifts both up and down from 1-2-3 and 3-2-1. Also noted that when shifting from D to R it took about 4 full seconds for the shift to take place.

Took it to the local Ford Dealer and they did an overhaul. Drives great now. Parts repalced were:

F77Z*7153*AA, Kit, Gasket (1)
XL2Z*7A098*CA, Screen Assy (1)
4L5Z*7D034*AA, Band Assy (1)
4L5Z*7A100*BA, Control Assembly (1)
1L5Z*7B164*BA, Plate Assy, Drive (4)
F77Z*7B442*AA, Driven Plate, Steel (4)


Diag statement on the dealer receipt says the above problems I described was caused by "burned bands and clutches".

CMOS


PS: Here's a link to a shift kit for the 5R55E - Click HERE