The 6.2L will be a good move to replace the 5.4L. I'm not interested in the new diesel for obvious reasons (urea injection, V8 design, twin turbos, etc - not to start anything!). However, the 5.4L was a good engine but was behind on the competition. The 6.2L should give the HEMI a run for its money. GM will more than likely increase the 6.0L V8 to 6.2L and put down similar power as the Denali/Escalade vehicles.
If Ford can match this engine properly to a six speed automatic, I'd think of picking one up. 11-12mpg is to be expected in real world driving anyway in the city. EPA regs will soon be testing HD trucks, forcing automakers toward smaller engines: F150 Ecoboost is a good example of something that'll happen to the HD line in the next five years.
I dont' care much for the interior trimmings. I consider the "XL" a base model, but every year more features are added from the XLT line and the price of the XL increases by $800/yr for minimal equipment. I think Ford should have a more extensive options list so they can lower the base price. We'll see!