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I recently bought one after months of reading these forums and I was surprised at the difference it made in the driveability of the truck. $360 - $400 is the usual price range so $360 delivered is a good price for a new one. I too have an 08 F-150 w/ 5.4.
You are apt to get some replies directing you to use the "search" function as there are many previous threads discussing programmers. If you do some searching, you are then likely to come across the "Gryphon" programmer. The Gryphon programmer (which is actually what I have) is the same as the Edge in all respects except the color (black instead of Edge's gray) and it is capable of being "custom" tuned for your specific truck based on how you use it. Check it out at powerhungryperformance.com. Many orignal purchasers of the Edge end up sending it out to the aforementioned company to have their Edge converted to a Gryphon which just adds to the total cost in the long run.