OK......... Here is the poop. They towed my truck back up to the West Bend dealer and they took it apart to diagnose. Apparently stuck valve guides led to a busted rocker arm and two bent push rods. I spoke to the service manager who said that this is about a $4000 repair and apparently Ford is authorizing them to go ahead with this as opposed to getting a new engine or a new truck. I reiterated to him that we will go to war if that is the case. He is just the guy in the middle so I didn't hammer him. This was not the official notification but I had simply asked him to let me know what they found when they took it apart. After I restated my position that I would not pay a new truck price for a "used (and abused) truck" he suggested that maybe in one way or another I would get reimbursed some money. Technically I would then be paying a used truck price for a used truck. Of course I told him that if I was looking for a used truck, I would have searched for a used truck or kept my former used truck. Again, he was not conveying Fords official response on this but I definitely see where this is going. Hot times acomin'!!
I certainly feel for you, but you really don't have a leg to stand on.
If your engine did the same thing in 15k miles would you demand a new motor? Maybe... Would you get it? Probably not if it's fixable problem.
Ford is not obligated to give you a new truck or a new motor. The are obligated to fix the truck under warranty. If the engine can't be fixed, they are not obligated to give you a new motor, they will give you a remanufactured one.
Ford doesn't care if you go to war with them. I went to "war" with them twice and won twice, so I know all their little tricks. You're just going to get angry and cost yourself a lot of money.
You should count your lucky stars they authorized the dealer to fix it. They usually don't do that so fast. They will usually try and blame the owner, say they installed a performance box on it or some other nonsense.
What is your recourse? Well you could hire a lawyer and pay him 5k to start and try and get you a new truck to replace the truck that Ford fixed. Well no lemon law in the land will force them to replace a fixed truck.
With the trouble that Ford is in now and the mess the whole Power Stroke mess has cost them, good luck in getting a new truck.
I went to court with them twice and they didn't budge an inch, even with the dealer on my side.
Good luck to you and your quest.