new oil, new filter, does have an exhaust leak, but @ idle sounds bad in the bottom of motor, rev it up its gone, cold or hot, good pressure according to guagehttp://youtu.be/m9AUqooH6uQ

 

How many miles on the truck Gary?

 

.144

 

The problem is probably the cam phazer. The problem affects all 3v 5.4 up to the 2005 and may be covered under warranty. Check you Ford dealer and see if they have a warranty cover under a technical service bulletin for the cam phazer.

 

My understanding is my 2000 5.4 2v doesnt have that?

 

Try Seafoaming your engine. Seafoam is available at most automotive parts stores.

Pour 2/3 of the Seafoam can into your engine via the oil fill and start your truck and let it run until warm. Then pull a vacuum hose off the engine manifold and suck up the rest of the Seafoam. You will probably have to hold the throttle open because the truck will want to flood out. Once the can is empty, replace the vacuum hose and take the truck out for a hard run - several full throttles runs (be safe and courteous on the road). Come back, let it cool down and do a oil and filter change with a heavier synthetic oil weight.

If the engine noise is still there after all this, then you're probably looking at something that needs some heavier diagnostics and or work.