Unless you have a need for the 4x4 in the winter, consider a 2WD. It will be cheaper, will get better mpg and will have less stuff to break and fix. My 01 Silverado with 5.3 gets 17+ around town and will get 20 on the highway if I keep the speed to 65. It gets 18+ at 75. It has plenty of power to tow and to stop. I'm sure F150 of same vintage will be similar. Having experience riding in both, I gotta say my Chevy is a much more comfy truck. Especially when towing.