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I pulled the plugs on my 01 5.4L yesterday and the furthest aft on the right bank appears to have been repaired once already since the threaded insert came out with the plug. The top plug is new for comparison and the bottom one has some sort of thread insert on it.
i used the Cal-Van repair kit and it is easy to use and seems of pretty decent quality. the inserts are steel (or SS) and are pretty beefy. and reasonable in-expensive ($450 thru Snap-on, can get cheaper on ebay or other places). comes with 8 inserts so can do the complete engine if so desire.
other options are either to find newer heads (i think Ford kinda of fixed the problem on the 2002 & 3 models) or go with aftermarket heads. neither of these options is going to be cheap.
i've used the Cal-Van kit...if you follow the instructions to a tee, it's a very sturdy repair. i did it on a '02 SCrew with a 5.4 about 4 years ago and it's still going strong. and it had 2 plugs that had shot out.
I had a similar problem last year with two old inserts that started causing misfires. One had caused the plug to foul badly. I replaced them with Timeserts and they are doing well, but I only put a few thousand miles on the truck since then. I rented the Timesert toolkit from someone on one of the forums.
+1 on the Cal-van kit. We use it at my dealer and have not had any come back. They go for less than $300 on Amazon. The inserts are thicker than the helicoil type(which is what you have) and do not come back out.
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