My engine build date is 1/03 ..... So I assume I have the "2nd revision" heads. I did do the cooling mod (for peace of mind). I am careful in the summertime heat with it, and give it some mercy on the back to back stuff.
Bought mine at 92K up to 99K now. Doesn't burn oil, smoke, etc. Running Mobil 1 extended performance, and as long as I stay regular with that I don't see any reason this car won't last a long time. Ported and pullied with CAI and longtubes if anyone is wondering. Port is a posi style (was on car when I bought it) so more than likely around 500rwhp with an aggressive 2.76/6# combo. Lots of police cars had the 2V version of the 4.6 and those things see high miles and take a beating. Not sure why the 4V would be any different. Yes there's obviously higher power, but it's built for that. If you're happy with the car, and a compression and or leakdown turn out ok then I say but it, and don't look back.
I believe that's the same car I went to check out for someone else here on SVTP, which I recomended NOT getting. When I started the engine there was a loud ticking noise coming from the engine that lasted for about 8 seconds and then it went away. Couple scratches trough out the body. High mileage. I would say keep saving for a better one.
Yup exactly same thing I noticed I told the guy something doesn't sound right. Also he was trying to talk me out of taking it to my mechanic I immediately walked.
Compression/leak down test and I would check for any structure damage or signs of previous wrecks or crappy repairs.
From what I've read that 8 second or so knock is quite common with these motors. It has to do with the clearance between the pistons and the cylinder walls. Some people call is "piston slap," and it doesn't seem to mean anything is wrong as far as I know.