As far as I know no one has confirmed that this fits, until now
The thermostat that I used was a Jet 180 deg thermostat part number 10177. As far as I know it's the only 180 tstat for the 4.7L. It is possible to use other tstats(that are cheaper) and drill a hole in them, but I'm honestly not perfectly sure if they work correctly. I would assume they'd be fine.
First, drain the radiator into a catch bin of some sort by placing a hose on the drain located on bottom of the radiator, on the driver's side.
Use a large allen socket or allen wrench(I think the size is a 10) to open the drain. It just loosens/unscrews a few turns. You could use pliers, or maybe a wrench on this but I wouldn't as it's plastic and could break VERY easily. About 1-1/2 gallons will drain here.
Then remove the radiator cap(makes sure it's cool) and let it finish draining. After it's done, close the radiator drain and remove the hose.
Next undo the lower radiator hose(on the passenger side) from the thermostat housing. About 1/4-1/2 gallon will drain here.
Next remove the two bolts that hold the thermostat housing. I believe they are 8mm. Then you can take the old thermostat out and install the new one. It is VERY IMPORTANT to align the tab in the gasket with the tab in the housing, and to make sure to align the hole in the side of the tstat with the offset hole in the housing (you'll understand when you see it...)
Then just clean all surfaces, reinstall the thermostat housing torquing the bolts to 10 ft lbs. Reconnect the lower radiator hose. Fill the radiator with 50/50 coolant/water mix. Make sure the expansion tank is filled to the MAX mark. Start and run the truck(radiator cap off), with the vent selector toward the floor, the fan on, and have it turned to heat. Let it get to full operating temp and top off the radiator. Be careful and watch the coolant (since the cap is off), you may have to put the cap on, then after it warms up let it cool down to top it off. I had to top mine off the next day as well, just keep an eye on it for some time.