
I use Wal-Mart Supertech 10W30 full synthetic in all my vehicles, 97 F150 4.6L, 94 Ranger 4.0L, 94 Lincoln TC 4.6L.
I change out at 3K-5K intervals and add 8oz of STP at each oil change.
I got turned on to the stuff from a lengthy treatise on engine lube oils by lube engineer, Kit Sullivan. The other major brand synthetics are very good, but not significantly better than Supertech at half-again more money....and Supertech has a seal conditioner built into the additive package that is very beneficial for older engines.
If you want to run a long, long, long time between oil changes, then you'd better get a good fleet service synthetic such as Shell Rotella T 5W40. Fleet service lubes have a robust additive package designed for long service life. Regular API SM lubes additive packages are usually done at 3-10K depending on the type of service.
One more bit: If your tranny is the 4R70W, run the truck down to your reliable transmission service center and have the system drained, torque converter and all, and refill with Chrysler ATF+4; your tranny and TC clutch will love you for it.....and don't let the service tech BS you out of it. Ford trannies use Mercon V which is backward compatible with ATF+3,4 and the ATF+4 is a superior fluid compared to Mercon V.