RE: Best oil for 4.7
I agree with Virused with one caveat; The 3000 mile thing is hooey unless you're in the "severe use" bracket like routinely towing, stop-and-go commuting, etc. My mileage is mostly highway, and I've always used a 5000 mile interval with no issues whatsoever. It saves money and is a lot easier to remember, especially if you own multiple vehicles.
As far as oil goes, any premium brand is about as good as any other. Don't skimp on the filter either. I run Valvoline 5W-30 and Fram Extra Guard filters in both my vehicles. My Dak has just over 80,000 miles and burns about half a quart between changes. My Focus has about the same mileage and oil consumption rate, so every 3000 miles or so I split a quart of oil between them.