I’m very familiar with the 6.4
The good - it can produce more power per cubic inch than almost any other PSD. With a tuner it can easily produce over 1000 ft pounds of torque.
The bad - you have to spend a lot of $ in order to bullet-proof it. Here is a list off of the top of my head to changes that need to be made:
1 - new heads. OEM heads will crack. You can’t buy a reman long-block from Ford because they don’t have core’s with any good heads. There is a company in GA that sells aftermarket heads.
2 - head studs
3 - o-ring heads
4 - delipped pistons. OEM pistons tend to burn through the lips, putting a hole into the piston.
5 - new roller camshaft with more gentle “ramp” from base circle to valve lift. OEM cam’s set the valves down and pick them up too aggressively and will wear out the valve train every 100K miles or so.
6 - aftermarket radiator (Misimoto). The factory ones with the crimped plastic tanks will leak.
7 - get rid of the EGR coolers, DPF and regeneration cycle. Ford opted to use the cylinder injectors to inject diesel fuel during the exhaust cycle in order to provide fuel to the DPF incinerator process. This will wash the oil off of the cylinder walls, creating accelerated wear and ultimately cracking piston skirts. The EGR coolers will crack, filling the cylinders with coolant and causing a hydro-lock.
Figure on paying a good, aftermarket diesel high performance shop 12K or so to rebuild the engine to the above specs (or get a shortblock from Asheville Engine and have it built). Once you do this they can be bomproof and good for a few hundred thousand miles.