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Mine has 160k on it......and was leaking from the rear main. I switched to 10w30 Castrol High Mileage and the leak has stopped......drive way is clean.
The best oil to use is Shell Rotella T 15W-40, it is made from pure base mostly and I wouldn't use anything else. I've used everything in the past Castrol 20W-50, synthetics...you name it but after much research and experience w/ my 5 vehicles, I have found Rotella T to be the best. Buy two 4 qt jugs as it should take six quarts with the filter change.
I have an 88' F-150 with a 4.9 liter six, it has over 150,000 miles on it and it works great with the above. Use the Motorcraft FL1A filter though because the Wal-Mart Supertech are great filters but because of there super fine filtering may clog up with debris easier on a high mileage motor so I stick with the Motorcraft, plus it looks so stock.
Also I have been adding a can of STP oil treatment just to thicken it up slightly and give it a little extra protection, it worked great on the one vehicle I use and I believe helped it go for 400,000 plus miles.
There is a great website that I will post later about motor lubricants, the guy did it as a PHD thesis on engine lubricants and it is very detailed...guess what comes out as the best oil?
Johnny
Ford F-150's rule the road .................. God Bless Henry Ford
I second what Fordman said, I found that the best oil to use in my old '90/302 was Rotella T 15w-40. I had low oil pressure when the engine was warm and I stopped at a stop sign, there was a few noisy lifters too. All seems fine now after a couple of oil changes with Rotella. Be sure to use a FoMoCo oil filter.
...Terry