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xlt is bottom line. it's either an xlt or an eddie bauer (and 'sport' i think, but i don't know much about those). an eddie will have more amenitees, a driving "computer" (mpg...etc) and slightly different trim. there are many xlts with just as much features as an eddie (sans the computer and outside trim).
I believe early Expeditions (97-02) were either XLT or Eddie Bauer. In 2003, the XLT line was split into XLT Value, XLT Popular and XLT Premium, as well as an FX4 off-road version of the XLT. In 2004, they went back to regular XLT trim but introduced the XLS trim at the low end (bare bones), they renamed the off-road trim the NBX, and the Eddie Bauer Premium Appearance Package at the high end offered the monotone painted body cladding, chrome tipped exhaust, smoked headlamp lenses, etc. In 2005, the EB Premium Appearance Package became the Limited trim level. For 2005 and 2006 model years, I believe the trim levels are still XLS, XLT, EB, and LTD. Not sure what changes there may be with the new 07 coming out later this year.
The basic differences with the XLT versus Eddie Bauer are: XLT came standard with cloth seats (leather is an option), with the EB leather is standard; XLT usually could only have dual media (CD/Cassette) or "Premium" sound (no subwoofer). Eddie Bauer offered the "Audiophile" sound (more power, with a sub). XLT had manual climate controls, Eddie Bauer had auto (temp setting) climate controls. But the big one -- you could only get tan leather interior in the Eddie Bauer. If you wanted gray interior it would have to be an XLT (or for 2005+ a Limited). Also, with the 03-06, the XLT has gray textured body cladding (except the XLT Sport has a lighter gray painted cladding), and the EB has gold painted cladding. Only with the 04 EB Premium Appearance or the 05+ Limited could you get the cladding painted to match the body color.
Oh and little things like the turn signal lamps on the mirrors, power rear quarter windows, and the Homelink remote control system were only available on the EB and LTD. However, DVD, sunroof, AdvanceTrac, side curtain airbags, PowerFold, etc. are all options that are available on both XLT and EB. In the used market though, you'll find a lot fewer XLT's with some of these options than EB's. That's just the way people bought them though.
the expy has come in lots of trim levels XL , XLS , XLT , FX4 ,NBX , EB
from 97-02 they had XL , XLT and EB only the XLT and EB was sold to the public the XL is for mostly government use.
in 03 they had the XL XLS FX4 XLT and EB
in 04 they dropped the XLS and FX4 and brought out the NBX
in 05 NBX was removed and now only the XL XLT and EB are options