Last time I looked over at V8SHO.com the documented cam sprocket failure number was around 250. That is out of about 20,000 Gen III SHOs built. My calculator says that is a bit over 1%, rather than up to the 3% mentioned above. I would also suspect that this very low number is the reason why Ford has been reluctant to dive into fixing the problem. I think this is a PR error on their part, but considering that the newest Gen III was made about 4 years ago at this point, and the oldest ones, which also appear from the data to be the ones most likely to be having trouble with the cams, are now getting into the 8 years old range, it is not surprising.
All that aside, and considering that there could easily be a fair number of failures in this mode that are not documented, it remains a sensible preventive maintenance operation to get your cams welded at some point prior to the 75,000 mile mark. We are, after all, talking about a very expensive car, and only a $500 repair. This is less than what it would cost you to fix the air conditioner or toss on a new set of really decent tires.
Meantime, lets everyone be cool with everyone else, and please cut the new members a bit of slack. We were all newbies once, wink
pax, smn