The Coyote is thought to be a twin cam, four-valve per cylinder motor with an output of 400 hp and 400 lb-ft of torque. The new V8 will replace the long-in-the-tooth modular V8, joining the 6.8-liter V10 it's derived from.
The 5.0-liter will be used in both the light duty F-series pickups and the Mustang, and it should be interesting to see if Ford markets the EcoBoost V6 in trucks against the V8 when they're outputs are so similar.
Pickuptrucks.com also notes that one of the trucks was equipped with seven-bolt wheels, indicating a heavy duty payload version. This fits with comments made by Ford at the launch of the new F-150 last year, where Ford's marketing people indicated that some buyers whose needs were on the edge of the Super Duty were actually moving down to the F-150 for lower cost and better fuel efficiency. A light duty truck with an enhanced payload would help bridge the gap to bigger trucks, giving buyers more options.