The answer to your question, Did I get screwed? I can personally agree, not only, but after replacement of 13 engines this year alone, 4.7L engines are about as sorry as the 4.6L Cadillac engines., that now are dinosaurs, so you cannot find a good running one in salvage yards.
It could be worse, you could have gotten screwed with the notorious Ford F series SUPER DUTY's with 6.0L engines! WOW!

 

They are fine unless you get them hot in most cases.

Welcome to the forum and thanks for replying to a 2yr old thread