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I agree with @mjlewis. If I, (a 70 yr. old - stiff - broken down old shade-tree, do-it-yourselfer mechanic) can do it in a weeks time, working about 4-5 hours a day, you can do it.
I understand the dilemma. And understand it is not the same for all. But favorable aftermarket oil pressure gauge readings and compression readings ranging between 157 & 175 (mostly nearer to 170) convinced me the gamble was worth it when weighed against $40-$50k for a new one. Wish you could test drive my 216,500 mile boat anchor now.
Could anybody tell me a fair priced but good Cam phaser kit (cam phasers, timing chain and guides etc.)? I don't have tons of money to throw at this truck, it has 235,000 miles on it, the only code it is throwing is a timing code but the guy who checked it says its not really very drastic. But of course I have the normal TICK TICK TICK....... Blahhhhhhh
If you don't have tons of money, at least you have lots of company around here. haha. But I hope you don't cut corners on what appears to be one hell of a good truck. 235k miles on steel chains in ANY vehicle is plenty respectable - especially ones with chains as long (122 links) as those on the 5.4 Triton.
I also wanted to comment on the TICK. That _IS_ coming from the valve train. Either lifters or slack in the bearings of some of the roller/followers. Plan on replacing those too an cleaning lifter wells, and removing/cleaning oil pan - oil pickup screen, and going back in with a new high volume oil pump. You'll be well on your way to getting 400,000 miles out of it.
You should be able to get all that including some needed misc parts (belts, idler pulleys, antifreeze, oil, solvents, plugs/boots, special tools/or rentals etc) for under a couple of grand by doing the job yourself.