You could probably get an F-150 cheaper than a Sportrac. The FX4 is nothing to fear, just an little fancier. It is kind of like a Ranger 4x4 Off Road or a plain FX4 Ranger. Typically lower gears, different available paint schemes, better shocks, different interior, stiffer springs... just a little bit more of what everybody wants.
I have got a pretty basic 2002 F-150 with a 5.4 I love it. Check the gearing before you buy it though, I do wish I could trade my roller skate tires off for something more substantial, but with 3.31's I think my towing would suffer. It had 235/70-16's when I got it (which were rediculous) I stepped it up a little to 255/70-16's which helped but there is still a lot of gaping wheel well left.
My cousin has a '97 Dakota with a 318, he averages 13mpg on the highway. That is a little better than my F-150 gets pulling a tractor... They look neat on the outside, like a Caravan on the inside, don't have an extreme excess of power like you would think, plus most people that drive them say they get 3/4 ton style milage. I used to work with a guy with an '01 and it was a fuel chugging little bugger too.