I have it in 2002 F53 w/6.8lV10. EZ 106 is the correct valve. I like it better than Fumoto because it has o-ring seal in grove instead of nylon washer and it has removable extension for attaching a hose. I have these valves in all of my vehicles. To prevent accidental release of oil and possible vandalism I installed stainless steel worm clamp on the end of the valve to prevent release lever from moving. Just be careful when installing the valve-use torque wrench.
Draining the oil is a dream, not a drop on the ground. I have three extensions with different length of clear hose depending on which vehicle I am working on.
The remaining oil in the pan is not an issue to me, there is oil left in places all over the engine that cannot be drained anyway.