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Okay, since the first time the code lit, I cleared it, it came back inside 100 miles (don't have an exact number). I went ahead and replaced my bank 1 camshaft position sensor (it was on my to-do list) and reset the code. Also did a bottle of Lucas Injector Cleaner (don't want to hear about what works and what doesn't, these are the facts of what was done). Drove the truck from Richmond to Winchester, and then around town for about 3 days before the code came back, roughly 250 miles since clearing it. At this point, I'm resigning myself to a new catalytic converter. Any opinions before I pull the trigger?
At your mileage, do yourself a favor and don't replace the cats one at a time. Do all four at the same time, and replace all four O2 sensors while you're at it. Yes, it'll be a little pricey, but it's better that paying for the same labor 4 times. Once one cat starts to go bad, the others aren't far behind. I replace all four cats, all four sensors, had a Flowmaster single into dual installed with dual exits just behind the rear wheels with chrome slash cut tips. Ran me $1200 out the door.
Oh, and use universal cats, not the Ford ones. The Ford OEM cats will run you $1200 per bank (two cats per bank).
4 cats?!? I thought there were only two, one on each side and then two mufflers
Nope. Two per side, and the OEM cats are insanely expensive. The universal cats do the job just fine. Also, the weld on cats are cheaper to have installed than the bolt-ons! Anyways, the smart thing to do is to replace all at the same time . If one is bad one or more of the others aren't far behind. As far as the muffler, if yours is still stock, there is just one HUGE muffler.