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Just sold my 01 F150 Lariat CrewCab with the 5.4/V8. Before selling I removed a bored/modified throttle body and reusable mesh air filter. My best calculations were these added a 1-2 mpg if I held steady at 65mph. The throttle body is OEM but I had the intake bored for greater air volume. It was installed on my 01 but you will want to recheck the other 5.4/V8 applications to verify.
Total investment was almost $300. I will sell and ship within the 48 states for $200 total.
Please contact me off-list at [email]email@example.com