A couple of rust areas down low behind the doors (another common thing on F150 super crew cabs), but I think she's good for a while. Oil got changed frequently by mileage... but not necessarily by date, given that I only averaged 3500 miles a year with it. But can't speak to the 100,000 miles it had on it when I bought it in 2008. It was clean, but no maintenance records came with it. So it's a crap shoot for the cam phasers.
Cam phasers will probably run you about $3500 parts and labor. That should include new cam phasers, new phaser solenoids, timing chain, timing chain tensioners and guides at a minimum. It's possible there will be some additional parts they find that are worn and should be replaced. It's a known, well-documented issue with the 5.4 3V engines.
I just had this done on my '10 (currently ~150k miles) and in addition to the phasers, solenoids and timing chains/guides/tensioners I had to have an exhaust manifold replaced (leaked, ended up with a broken stud in the cyl. head) and a few roller rockers replaced. It was not cheap, but talking with the shop owner, who I trust a great deal, he advised that similar repairs on newer vehicles were far more costly and not any more infrequent. He also said that once repaired, it should be no issue to get another 100k-150k without issue from the 5.4. I contemplated a new truck, but I couldn't justify spending $50000 on a new one versus $5k to repair my existing one which is in otherwise great shape.
