Done the research, believe I have a timing issue. Currently reading the 100 page all inclusive thread on fixing the ticking sound. Mechanic thinks it's the tensioner/guide and recommends replacing all timing components and the phasers for good measure.

Here's whats happened. I bought the truck with 170k, had a very slight ticking noise....barely noticeable. Had the oil changed at the dealership, then the next one was at an off brand shop. Kept synthetic oil in it (Mobil 1). Day after second oil change, the slight tick now sounds like a lifter tap - always there, changes with engine RPM. Noticed that the oil filter is some $5 piece of crap. Had another oil change, all Motorcraft, still there. Truck is running with less power and gas mileage, no check engine light. Some of my research leads to the possibility of a broken guide.

Does this sound like timing/phaser issue? Just looking for confirmation before tearing the thing apart.

On a side note...I miss the 5.7/5.3 Chevy engines...this thing may drive me back to them, I'm not liking the cost of this 5.4.....ugh.