Ford equipped a lot of the V10 Excursions with 4.10 from the factory, so it seems like the engineers thought it was a good match for the drivetrain and vehicle load, just like you do.
However, Ford also may have had a different engine/transmission calibration for the 4.10 equipped V10s, which might effect ultimately mean you may not get the same results as far as fuel economy, shift strategy, torque management, etc, as the folks whose V10's came from the factory with 4.10.
To compare part number info on PCM calibrations and tear tags, there are a lot of Ford truck forums that have amassed that information for the Excursions.