I drove my old 97 F150 past 255,000 miles and had the busted exhaust manifold studs on both sides (#4 and #8). I had the pass side redone for around $400 at a local performance exhaust shop. They did a great job and it quieted down the "tick" significantly.
I knew I had to do the drivers side, as there was still a 'tick' on cold startup, but would stop after a few minutes...
Then I decided I wanted to go into debt again! That's when I got the 13 F150 and haven't looked back since! Sure, it cost $33k, but it only had 56 miles on it and it sure tows my little #5000 TT a whole lot easier than that old 97 did.... And I thought that 97 did okay towing it..
Anyway, I put the amount of money I was willing to spend on the 97 for future repairs for the down payment on the 13 and feel good about it...
I didn't want another 5.4 of any year (especially 04-10)... While it served me well and was a great motor for it's time, I've been very impressed with the little 3.5 V6 I've got.. :)
Good luck!
Mitch