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There is alot of discussion regarding loss of power and black smoke which I am experiecing now. Is the EBP sensor easy to replace and inexpensive and will it cause any problems to the computer if replaced? I have a hard time working with the dealer when discussing this issue. My truck is a 03 6.0l w/26k miles.
To answer your question, the EBP sensor on an F-Series is fairly easy to get to and I think it lists for about $160.00.
To give you some advice, I don't think your problem is the EBP sensor. From your description, my professional Internet guess is that your EGR valve is hanging-up on you. A lack of power and black smoke, sometimes described as "billowing" is the classic description given by many of my customers. In most cases, the valve is the cause.
There is a special tool, it doesn't work so forget that idea. Remove the two retaining bolts, use a screwdriver to rotate the valve in the bore to expose the ears. Using two pinch bars/ lady finger pry bars under each ear, gently pry it loose and out. Replace it or service it as required and be sure to follow the other information I sent you.
I would but this information is published on my web site. My posting links to it makes the Webmaster unhappy so I no longer will out of respect to the site owners.