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i have an 03 f 150 with a 5.4 and have replaced the cap and thermostat, the thermostat was not opening properly it appeared, now it is pushing water out, at around 1500 rpm at idle all works great and no water in the oil no oil in the water and no atifreeze in the exhaust and the motor does not miss or run rough, when water is surging in the res. there is no air in it and am out of thoughts on what is next to do
you may have a very small pin hole in the head gasket or head. You get a very slight gas pressure in the coolant as the motor runs. Whn you build up over 15 psi, the radiator cap belches out a small amount. Sometimes if you have a small leak, the antifreeze will leak into the combustion chamber overnight and you might get a small engine knock or vibration the first thing in the morning or 10 seconds while it burns off.
i had those thoughts to, has a cold run miss that a ford tech said probally a corroded plugin on the wire harness, dont get any antifreeze out the tail pipe though, was hoping to rule bad head gasket from that,at idle no issues at all but about 1500 for a few you can see water surging into the tank from the bottom like a garden hose was turned on, but i think you are right on the head gasket and wont be fun to change on that thing