I have a 2000 - 4.7 v8 wich uses coil packs and the crankshaft position sensor is mounted on the lower right rear of the block with only one bolt.

i just looked back and don't think I mentioned which motor, sorry about that!

 

Ok I hated to do it but I had to figure this out! I swapped the #1 injector with the #7 and fired her up! LOOK OUT FUEL LEAK yikes! Oh - Man wouldn't you know that I chunked an O-ring. It leaked so bad I almost chunked my pants! After a trip to the parts store and $3.50 later I got it together and took it for a ride as usual it took some driving then shut it off and let it build some heat for about 5 minutes and when I started it BAM! p0207 The cyl that I moved the #1 Injector to.
So it looks like the injectors could use to be rebuilt. I will change them and post later if my problem is solved.

 

I picked up a rebuilt set of later model year injectors ( 2004 to 2006 part ) off EBAY for $150 for the whole set of 8 and they are working great. Truck is running fine again. I guess the injector would build up some heat and just stop working. I have the link to EBAY for the guy who sells them and he also bought my old set for $40. That ends up $110 for a whole set of eight. Here it is http://stores.ebay.com/Performance-EFI Check it out ! good deal. For those of you with the same symptoms I hope this post helps you. I did have to use O-rings for a 2000 4.7 the ones that came with the new set were just a hair larger and made it brutal to try to slip in the injector hole. Otherwise go with the cheaper price for the 2001 to 2006 injector. I may even be getting better fuel economy.

 

Been there done that. In my case went nuts trying to figure it out. finnaly did a compression check and noticed it blowing water out the plug holes. You got it, blown head gasket.