The older 5.0's had a 2G alternator which frankly was junk. At least in my 2.3, the wiring was terrible and would threaten to catch on fire and they didn't produce much power at idle speeds. The idle speed power output would then be compounded by underdrive pulleys, and on a v8 which can run at idle down residential streets, you suddenly draining the battery while driving or idling.
The 4.6 got the newer style 3G alternator which is MUCH improved. It produces significantly more power at idle speeds and won't be affected significantly by underdrive pulleys. Of course, if you have a competition stereo, wench, hydraulics, ect with loads of more than 20-30 amps, you probably shouldn't go underdrives and would be smart to spin the engine up a bit under these loads. hehe