My owners manual with the 04, 05 and now the 06 all has 7 quarts for the 5.4.

 

I changed the fuel filter today ($8 at Advance Auto for Motorcraft) and the acceleration vastly improved. Has anyone else noticed this?

 

Per manual the 4.6l takes 6 qts. But the manual also suggests to make sure that when you refill your oil, the oil mark should be somewhere in between the shaded area in the dip stick when the car is in a flat surface. Following the manual, The truck takes about 5.5 qts pouring the oil while checking the dipstick.