I have a 99 with the 5.4, I have had it for 7 years and I would for sure do the v10 or diesel if you plan to tow at all. I have towed light loads, around 5000 pounds. It does ok, but if i towed often I would go bigger. maybe with a good tune and a few performance upgrades it might do better. If I didnt tow at all and didnt load it down I think the 5.4 would be fine. But towing or loading this up it struggles. On a trip last summer, 6 people, 6 mountain bikes and a lot of gear it struggled to stay at highway speeds easily. Which made for worse than usual mileage which is to be expected being fully loaded, but if I'm going to get horrible mileage then at least I could have something that will move, not struggle. I plan on selling my van in the next few years and will get the v10 or the diesel for sure.
I have had a similar dilemma, I prefer the engine and trans form the chevys, for transmissions feel a bit sloppy to me, but for four wheel drive stuff i do believe the ford is better, so its a trade off. You can get a chevy 4x4, or like another said the awd version, that might be a good option too.