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I'm a 'stang owner (have 3, 2-84GT's, 1-96 v6) looking into getting an 97-98 F150 in about 2-3 months. We are looking for one that has a triton v8, flareside and x-cab (not sure if getting a crewcab or supercab).
So, in the mean time, i'll be reading up on what problems accompany these years.
I think you'll find that there are a lot of people here that provide invaluable information. This is by far the friendliest and most informative website on Ford vehicles that I have found on the net.
Welcome to the site! As for your future purchase, I would recommend finding a truck with the 5.4 motor. I have test driven both (and eventually leased one with the 5.4). Hope to see you around the boards.