My '01 Durango 4.7 reads right on the full mark with 6 quarts in it. It does however, take forever to drain all back down into the pan. If I take a reading when it's just shut off, it's about halfway between full and add. Leave it sit for an hour or so, then check it, and it's right on the mark.
BTW, my dad just bought an '06 Ram 1500 QC 4x4 this weekend. Very nice truck. He got the 4.7L V8 with the FFV option, since E85 is so cheap here compared to gasoline.