I am adding yet another explorer to the family tomorrow. We are picking up a 2001 Eddie Bauer AWD V-8. I have always bought the V-6 models so I really dont know what to look for on the V-8's. Are there any specific things I need to look for? (oil leak areas, seals, etc.) I will be getting underneath the truck and looking things over.
Can you help me?

I'd run it hard and put it away wet, then look underneath for any problems :D

The 5.0 and 4R70W are a lot beefier than the 4.0/A4LD. Probably the most common problem is the factory exhaust manifold leak.

it will either now or sooner or later tick from the passenger side. this will be either one of 2 things-

1- egr tube leak

2- factory manifold leak

the manifold leak is easy. get a set of copper or aluminum header gaskets and forget about it. other than that, you have nothing to worry about. ive got 116k on mine right now, and ive never really done anything other than change the oil/tranny fluid.

Yup. I just installed an aluminum gasket (passenger side :D ) yesterday. No more leak. Maybe I'll do the other side tomorrow. :p

I had 135,000 less than gentle miles on my first motor before I took it out. Prior to removing it from the truck it ran like new. I tore it down and it looked like it was ready for 135k more miles.