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This truck does not use a strut.
The front suspension is SLA. Note the upper control arm and upper ball joint left of the spring in the first image, and clear shot of the upper control arm to the right in the second. The spring and shock are in a more compact coil-over assembly, but the damper is not used as a suspension link. But I have heard any coilover type suspension referred to as a 'strut' this is incorrect.
I do not know where the added height of the 4wd front may be from. On Monday I could take some measurements of a '06 XLT 2wd for comparison if you would be interested plasticuser. The added height maybe from the wheel centerline on the upright, and not the spring. Sort of like a drop spindle, only the 'spindle' is closer to the lower balljoint.
As for the rear, I would leave the block/U bolts in place. Ford and the aftermarket already sells drop shackles for these trucks and would be much easier to replace than dealing with the weight of the live axle. There are several components bolted to the housing, mostly brake hosing, but I would not chance that hosing moving about.
Fords rear shackle is M-3000-G will lower a 4wd rear 1.5" and is ~$100 US, I have been looking at it(lowers 2wd 2") to make loading/unloading a bit easier.
Ford maximized the room for the box height in the back. Flipping the rear axle is out of the question unless you want a serious slam(c-notch) which would also require cutting holes in the bed for axle clearance.
A quick google brought up a couple of links Summit Racing shows two 4wd kits,
McGaughy's Suspension Parts - 70010(2"/4") - $365.95
Ground Force Suspension - 9966(2"/3.5") - $569.95
I have no connection or experience with either company, just letting you know what is available/price range.
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