Neither method is good for backing up more than a few feet, although a talented driver can usually go further back with a dolly.
Another vote here for towing 4 down, and also for the NSA ReadyBrute Elite tow bar that has an integrated ReadyBrake auxiliary brake system. I've installed our setup using a Blue Ox base plate twice now on two different Toyota RAV4's. It does take some work, but nothing that should be beyond the capabilities of the average shade tree mechanic capable of following directions. As said, add the ReadyStop break away system as well. My entire tow system came to about $2000 including shipping. My RAV4's also required a Remco transmission lube pump for another $1000, but you won't need that for your Ford. Oh, and if age is a factor, I'm 75 now and was 71 when I installed our current base plate and tow setup after removing it from the previous RAV4.