Not necessarily. The 5.0 is plagued with this issue and I've read many a post about it. It's been an annoyance to me since I got my truck. That being said, I had Torque Monster Headers installed last summer with new gaskets and a brand new custom EGR tube (to accommodate an Upper Intake Spacer). I've Seafoamed it many times, have new plugs, wires, DPFE, IAC and MAF. It still has the same "tick, tick, tick" sound that plagued it before I had all this done (very similar to what you describe). The only thing I didn't change and probably should have is the EGR valve itself. It's a ***** to get at, but we had the whole engine ripped apart doing the other work that it would have been ideal to swap it as well. I know of someone else who swapped this part and the pingy sound went away.... for a while.
I hear others mention a "lifter" issue. I'm not that strong technically to know what all that means, but it seems to be a common theory as to why the 5.0 has this issue. I've also read that it's an annoyance first and a performance issue second. I read that "Lucas Oil Stabilizer" might solve the problem, but it did nothing for me when I tried it (except lightening my wallet).
I was having big time driveability issues after we did the headers that I thought was related to this same issue because I still heard the sound. It was worse after the headers were installed and I had some serious performance issues (chugging, non-responsiveness) as well. Turned out to be a leaky gasket connecting two pieces of the driver's side header and once replaced, my truck ran like a top. The pingy sound remained. My truck is running awesome these days, so it's an annoyance I'm reluctantly accepting. I don't notice it when the music is on anyhow.