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Welcome. I've got the 4.7 also. Mine is a 2002 Quad Cab model and silver just like yours. I am going to put a K&N cold air intake (77 series) on it this weekend. In the near future I am going to upgrade the exhaust. You may want to think about doing the same. These 4.7's are gas guzzlers and a new intake and exhaust supposedly help us with our gas mileage.
I actually already have the Volant Air Intake and have removed my muffler and installed a glass pack for now. Man does it sound sweet and yes the gas mileage has gone way up.