I have an '06 with 165k miles. No major issues, been holding out on changing the timing belt/chain and water pump. Have the bubbling paint, not sure if that an 05-06 only issue or just Ford, but at least it isn't mechanical.
The paint "bubbles" on the aluminum tailgate mostly and could also appear on the hood edges. It affects many years and appears that the aluminum was not etched properly before applying the finish at the factory.