I am currently in the middle of doing a high volume oil pump, timing chains and tensioners on my 3v.... I made an educated risk when purchasing this truck. Has some chain slap at startup and then gets quiet with no VCT noise - typical of failed chain tensioner seals. I got a good price on it and was willing to do the work so I jumped on it.
Like previous posters have mentioned, this engine barely puts out adequate oil psi when stock. Add a lighter weight viscosity oil for emissions, blown tensioner seals, and 100k miles of general wear the valvetrain and VCT systems begin to be starved of oil. From there the expensive phasers fail, roller rockers can seize, etc... If you catch it early enough and throw redesigned cast iron tensioners and a high flow high volume pump in and switch to 5w30, the engine will be essentially "bulletproofed". (Besides plugs and exhaust manifold bolts lol)
After I button her up I don't expect to do much for another 150k miles. Also btw if you want to learn more from a very reliable source, search FordTechMakuloco on YouTube. He's a 3v guru and has tons of tutorials and informational videos.