We have several customers with 5.4's 200+K on them, good engines. I have only seen a couple plugs blow out and when they do it is not a huge deal to fix if you have the right stuff.
I would rather have a 2V 5.4 than the newer 04+ 3V.
Cheap Thrills Off Road
2003 F-250 4X4 7.3 PSD Crew Cab