I'm on drivers side head #3. I've had two replaced thus far, but the last one seems to be holding up. Now it might be because I had an Apten cooling mod performed when the head was replaced this last time. Could also be that I finally got a head with a revised coolant passage.
Either way it's covered under warranty. There's a Ford service bulletin that covers it based on when the motor was built (See Below). Now if the car you purchase is out of warranty and it has the "Tick", you may want to reconsider.
U.M.
SOME 2000-2003 COBRA EQUIPPED WITH A 4.6L 4V ENGINE, 2000-2003 NAVIGATOR
AND 2002 BLACKWOOD EQUIPPED WITH A 5.4L 4V ENGINE, MAY EXHIBIT A TICKING
NOISE FROM THE AREA OF THE UPPER CYLINDER HEAD. THE CONDITION IS MORE
NOTICEABLE WHEN ENGINE IS WARM. TO SERVICE, USE A STETHOSCOPE TO ISOLATE THE
NOISE. CHECK ENGINE OIL PRESSURE AT IDLE. WITH CAM COVERS REMOVED, OBSERVE
OIL FEED PRESSURE AT EACH CYLINDER HEAD. INSPECT FOR VALVE TRAIN DAMAGE. CK
TENSIONERS, CAMSHAFT SPROCKETS OR FOR A MISSING SPACER BEHIND THE SPROCKETS &
LASH ADJUSTERS. SERVICE AS REQUIRED. REMOVE FRONT INTAKE CAMSHAFT LADDER
(ONE CAM LADDER AT A TIME) & INSPECT THE CAMSHAFT LADDER BOSSES FOR DEBRIS.
CLEAN SURFACE AND REINSTALL LADDER. TORQUE THE BOLTS TO 10 NM, STARTING FROM
THE CENTER BOLTS AND OUTWARD. REPEAT PROCESS FOR REMAINING LADDERS.
Vehicle*********Cylinder head, right**Cylinder head, left***Head gasket, right*** Head gasket, left
Lincoln Aviator****2C5Z-6049-AA*****2C5Z-6049-DA*****3U7Z-6051-AA*******3U7Z-6051-BA
Cobra Mustang****2C5Z-6049-AA*****2C5Z-6049-DA*****3U7Z-6051-AA*******3U7Z-6051-BA