Well, you've found a perfect guinea pig in me, as my current fleet at home is an '88 Jeep Cherokee with the 4.0l and 65,000 miles (no, not a typo!), and a '99 F150 with the 4.6 and 108,500 miles.
Right now, I run both on Rotella T Syn 5w40.
On the Jeep, run the Rotella T 5w40 without any worries. I've been running it close to a year now, and so long as my last UOA I just sent in shows some improvement from the the previous one, I think I will stick with the 5w40. No dropoff in fuel mileage from the previous 5w30/10w30 regimen. Runs nice, no leaks, and no fade in oil pressure when running hard, which I had observed using 5 and 10w30 oils. Starts fine in Minnesota winters.
As far as the F150 with the 4.6 goes, the jury is still wayyyy out - this is my first interval using it, and I just took a sample a few nights ago. My observations to date are: Clatters more on cold startup than with 5w20 or 5w30. (Same oil filter). Noted decrease in fuel mileage versus 5w20 or 5w30 (currently about 4% lower - and I have meticulous fuel records to back that up!). My Butt dyno says the engine feels more sluggish and the engine is less willing to rev, but we all know how accurate those measurements are.
In other words, unless my used oil analysis start coming in suggesting lower wear than I acheived over running 5w20 or 5w30, I don't think 5w40 will have a permanent home in the 4.6. Like I've said though, I'm keeping an open mind about it, and we'll see what a years worth of used oil analysis look like.
I'd like to only keep one oil around too, but my guess is that in a year, I'll have gone back to 5w20 or 5w30 for the F150, and stuck with the Rotella 5w40 in the Jeep...
Good luck!