i have a 02 ext cab short bed 2wd 150 with a 4.6, had bought a super duty with the 5.4, and for financial reasons i ended up with the 150 instead, i had traded in a 92 5.0 2wd, thought that i had really gotten myself in a pickle by getting a smaller engine, but it pulled my 20 foot trailer way better then the 5.0 ever did, and if you look at the 5.4 vs the 4.6 power numbers, the 5.4's torque comes on low but bleeds off fast, and but its max hp is around 5400, which is a decent pulling engine but not a nice everyday driver, the 4.6's torque and hp are lined up at around 5400 which you v8 guys know it what makes for a more enjoyable engine, i think that alot of people would be surprised by what the 4.6 can do, i sure was, can't be that bad of an engine if its in the mustangs, but thats how i see it, i think that the weight of the truck has to be accounted for too, for every hunderd pounds of weight, you can take that off off what you can pull, so a 5.4 4wd might be just as much as a dog as a 2wd 4.6, .8 liter isn't all that much, but thats again how i see it.
grant