I am wondering which one would be more beneficial to the money and the pros and cons of each? I have the 4.6

 

I would go with the edge evo. It's had increased hp and tq plus you can use the dash pod to display all sorts of information. You would need a tuner with the CAI anyway so the truck doesn't run too lean. I saw an increase in mpg when installed the edge. With the CAI, some guys say it improves mpg and other day it doesn't. Look on ebay for an edge, I picked pine up for $250 shipped.

 

I did the Edge Evo on my 4.6 and was amazed at the power boost. There are some used ones on the forum now if they have not sold yet. You can also get a deal on Ebay.
As for the CAI, search and check out the GOTTS mod. This costs almost nothing and may be as good as a CAI. Depends on who you talk to.

 

If you do a cai before a programmer you're going to run lean and throw a code, I recommend both programmer and a cai or just a programmer.

 

As Joe mentioned above, do the Gotts mod. Many have posted that it is as good as a cold air intake, and is close to being free. Then you get both

 

I have cai and a superchips programmer, before that I did the gotts, a cai is much better!

 

Have you hooked your tuner up to the chips website, and looked at downloading a program to match whatever Cai you're running? It was a noticeable improvement over the canned tunes it comes with.

 

What is this chips web site? Can use my edge on it? I still run stock tunes with my brute force cai.

 

No. You need to upgrade your old edge at PHP's website to a "gryphon" then have bill write you a custom tune with a specific octane choice...

http://www.gopowerhungry.com/_gryphon.shtml

You will love what a custom tune will do for your truck.. Fords factory tunes are a one size fits all tune that caters to the broad range of customers.. A custom tune is tailored to you..

 

I have A CAI 08 5.4 and never threw any codes and it does not run lean I have never had an issue with mine. I plan on getting an edge but got money tied up in other things but I really think it's more what u want on ur truck IMOP