Use the recommended oil. 5W-20 is fine, used it in a 2002 Explorer that got run hard. Traded it in at 145K miles, engine still good. 5W-30 would be good too, I wonder if Ford changed their initial 5W-30 recommendation to 5W-20 in an attempt to get a few more tenths MPG. Just a guess there.
Use NO additives. That's Old School, completely unnecessary and possibly harmful. I like switching to a full synthetic after about 5-6000 miles. First oil change around 3000, then 6-7000 after that. If you have any questions, send a sample to Blackstone Lab for a good analysis.
The bore on a V-10 is 3.552, stroke is 4.165. Same as the 5.4.