Nickle and Dime time. That age and mileage, will keep you busy, frustrated or your mechanic happy. The 4.6l, is the better of the engines.
Not sure about that. My wife's 07 is sitting at ~198K. We've done the normal tires, brakes, coils, plugs and fluid changes and it's been pretty dependable. We did replace the AC Compressor (spent the 1st 77K miles in Florida) along with the AC/Heat control board, the radiator around 130K (along top heater hose shortly thereafter), had to re-flash the tranny once, did coilovers around 140K and recently (last 2K miles) had to replace the tailgate struts and lift bar. Had to replace one tie rod or track rod last year because the right front tire was wearing unevenly. I did replace the headlight bulbs for brighter ones and one interior door pull (plastic was chipped and sharp enough to cut someone). One of the middle row seats has a split leather seam (most likely from a car seat) but it still rides and looks pretty good. The navigation stopped working a long time ago but the maps were out of date and it's easier to use a phone so we never had that fixed.