I agree, that's a sweet find with low miles! I just finished restoring my 1997 5.4l Expe. Bit of advice for you: Use Forscan. It'll make figuring out whats wrong with it MUCH easier.
Test your GEM before you replace it, they're expensive and the process to swap it out is a pain. Get a bluetooth adapter and download Forscan and have it scan your GEM. It'll hopefully tell you whether or not you actually need to replace it.
The Ford 5.4l 2v is one of the most bulletproof engines that you can get. Assuming the trans is still in good shape, it should last you a long time. I would change everything that you just listed plus your fuel filter first and then if it still runs bad THEN look into changing your coil packs...
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