5.8 ZF5's are going to be tougher to find in the grand scheme of things. They are also huge to fit in something smaller than what they came in originally.
Ford did put the M5OD behind the 5.8 in the '250's so that should tell you something.
They are stronger than the T5, the T5 has a mixed reputation in a 2k sports car. Ford opted for the M5OD (with different ratios) for the Supercoupes running a 3.8 with a blower.
People jack up their 1/2 ton+ 4x4s, beat the crap out of them and then have M5OD problems... same as any other trans.
You are not going to race it, you are not going to tow with it and you are not going to mud bog with it, I think you would be fine with an M5OD.
We just got a '96 F-250 with a ZF5, we liked the ratios of the T18 in the '80 F-350 better that it replaced... and with 100k more miles (200k vs 300k) it didn't need syncros replaced in second. (The T18 didn't have a synchronized first when it was new so the syncros also being out of first in the ZF is kind of a draw)