Just Bought my new 2004 f-150 lariat home TODAY. Has 200 miles on it from the dealer driving it in from another town. It is a 2wd with the 3.73 rearend. White with black leather supercrew it is beautiful with all the goodies. But Ive put about 40 miles on it and have started experiencing a clunk in the tranny and low and rough idle and enemic power ticking and slight missing or diesel feel (sound) to the engien. went back to the dealer the same day and drove another and it ran great lots of power and it was just a 3.55. Mine runs like chit next to this one. I own a 5.4 99 expedition and it runs fast no idle problems and never a clunk in the tranny 92k miles.. I told the dealer i dont want it they said they are gong to get me another truck on monday. Has anyone had similar problems I decided one hour after taking possession this unit must have issues that iam not going to deal with and get stuck with a lemon. New to board any info would be appreciated THANKS! BTW all the ford trucks i have ever owned have been solid with no problems. This scares me..

 

The idle noise and the lack of throttle response on some trucks have been discussed a great deal on the forum. The clunk in the tranny would be my most concern and I believe you did the right thing by taking it back. There have been a few that have had the transmission replaced. I don't recall if a clunking sound was part of their problem or not.
I have had none of the above problems with about 4500 miles on my 04. So far so good. Mine has great acceleration no hesitation, but I came off driving a 92 f150 with a 4.9 6cyl and a 5 spd manual. So it may be just that this is so much quicker and I am not seeing what the guys that were driving the V8's before the 04 are.
Don't give up on them, these are great trucks.
Sonnyxlt