Short answer: WAY TOO MUCH.

You people who buy these trucks, I lol @ you

 

You dont see those kind of rebates until end of model year, IE: August/September, if at all. Last year they didnt do anything like that because the 2011's were so late.

 

I have been shopping/educating my self for the last 15 days or so. The end result is that I ordered the exact truck I wanted. Here is how it spec'd out.
2011 Lariat Super Crew 4x4
3.55 Limited Slip Rear End
Eco Boost
Navi
Lariat Plus Package
20" alloys
Tailgate step
Running Boards
moonroof
heated/cooled seats
MSRP: $48,355
My OTD price: $41649
I was also able to trade in my 2009 F150 Supercab Lariat with all the options above (minus eco boost and Lariat plu package) for $28,000. I am hoping my $750 coupon shows up to get to under $41,000.
BTW, I paid $32,000 for my truck in 2009. I demanded the $28000 for trade value, and the dealers excepted. They way I have figured it, the dealer is making $1500 or so on the whole deal. What I have found is if you have a good trade, they will take a short deal on the new, knowing they can make up for it on the used. I expect them to list my truck for $34,995. Even if they end up taking $32k-$33 they will still make $4-5K on the trade.
Remember, the best deal is the one you are happy with. Most importantly, go with a dealer you are comfortable with...and they may not always be the lowest bidder.

 

Thanks Kilo!