My '07 is an XL with true t-case lever. It's GLORIOUS! And honestly, one of THE BEST lever actions EVAR -- a very short and positive pull back and you're powering the front wheels.Concur, as the original owner of a 98 5.4 4x4 I can ay that the drivetrain is essentially bulletproof (2V 5.4/4R100/9.75/8.8/BW4406) but plug changes are no fun and trying to get a torque wrench onto the rear 2 passenger side plugs is a PITA. That said, the alternator and the transfer case electric shift motor are the only two items that have been replaced other than normal maintenance items.
I've since used Lightning parts to convert it to supercharged with a 2.9L Whipple on top.
My ex-FIL special ordered a '97 XLT before the bubble bodies had even hit the lots. He spec'd a manual t-case with the 5.4 and it caused a delay in him receiving his truck, but was of course worth it.
This reminds me OP: it's not entirely uncommon for these trucks to break a front torsion bar, but you'll know (of course) and it's not a big deal.
The biggest PITA is an IM leaking coolant, mostly 'cause you just can't get a quality part to replace it.