It's obvious that engine has been neglected. Personally, I wouldn't dump a bunch of money into it without a complete tear down and rebuild. Also, just because there is no play in the rods tells you nothing about their condition. You must pull the caps to inspect for galling and signs of oil starvation.

 

would it hurt to pull pull off one of the rod bearing and main bearing caps to inspect and put it them back on? What ft# do I torque them back at? Should I pull them all or would just pulling one tell me the whole story? I just don't want to mess up anything.

Also, the cam phasers, they don't look abnormal other than discoloration, perhaps they have plugged oil holes? could those just be taken apart and cleaned up? Save $250 right there. They are the new "improved" design by the way

 

Update. Today I pulled the rest of the cam bearing caps behind the front cam bearing caps...oh my what a mess. They are all scored. I also pulled the timing chain tensioners and the gasket was completely non existent. looks like it just melted away or something. I pulled the phasers off and when I unbolted them, that front plate with the timing tabs just fell off. the dowels sheared off. Option 1 looking better. but for $300 I can replace the phasers, chain, tensioners. Might be worth trying. I dunno. I can put a used engine in, but need help with that. I created another post looking for engine pull help.

 

That engine looks to be in terrible condition for 140k miles. That engine has seen very few regular oil changes. If you have scoring on the top end you can rest assured you have the same in the bottom. All that wear causes oil pressure loss. I wouldn't spend another minute or dollar on that engine. Replace it with a salvage yard unit.

 

Well the tensioner gaskets being gone is your oil pressure problem.
If I was getting a salvage yard engine I would still do a rebuild as you dont know the history. Or just rebuild the one you have. A hot tanked dip will do wonders

 

Well I have decided to replace the engine for sure. What I am finding is the price of used engines are around $2k with about 100k miles. The one I was looking to buy got sold...argh...Anyway, the price of a long block with 3yr 100k warranty only $800 more than a used engine. I think the warranty alone is worth that PLUS I would be getting a NEW engine. As those prices it simply does not make economic sense to buy a used motor and chance having neglect issues with that as well.

Anyone got any reman company suggestions? I am finding price ranges all over the place with the lowest being $2300 long block with basically chinese replacement parts. I have been asking rebuild companies who the manufacturer of the parts they put in are and I find it amusing how they all dance around the question and say "they are OEM spec or better parts". Translation, chinese parts. I already found reputable ford oem rebuilder for $2800 shipped so that is my target price or lower. What do you think?

 

Same reason I didn't go with used. I ended up going with a Ford remaned but bought it thru a machine shop for about 400 less than dealer. 3 year unlimited miles warranty. The motor was very complete balancer, water pump, plugs, oil and filter, cam sensors. The old motor was bad enough that I didn't what to reuse any of it.

https://www.f150forum.com/f4/my-04-f150-gamble-244158/

 

Hey RustyCJ,
Our thread is eerily similar. I bought my truck with this bad engine. 2006 FX4 crew 6.5 box, Picked it up off craigslist for $5k. Everything else about the truck is good to go. Interior was filthy but I rented an extractor and carpet seats cleaned right up. Even has the factory DVD overhead.

Anyway, I did some research today and I have found the engine I think I am going to pull the trigger on from "Advanced Powertrain solutions" in Addison Tx. I had to order through a distributor, but it looks like about $2700 shipped. Apparantly, they have a great reputation. 3year 100k warranty. Supposedly an OEM Ford rebuild supplier. I think that is the sweet spot for me for quality and price.