Regarding the Ford PowerStroke 6.0 being a bad engine, this is only true under one set of circumstance, and it is not at all true under another set of circumstances. Frankly, the 6.0 Ford diesel is the single best engine Ford ever made (technically, International made it). It had a reputation for blown head gaskets due to bad cooling. Eventually, coolant and oil would mix and create a sludge, and the coolant would get into the EGR. Coolant would be introduced into the cylinders, and the steam and pressure would make the engine go “boom.” People would get to about 110k miles with their 6.0’s and… “boom.” There were also issues with engines not starting (bad FICM, etc.). Customers flipped out, and thus the 6.0’s reputation was born. All these issues, however, are easily fixable now (though it will cost you), 13 years after the engine stopped being produced. So if you are looking at a 6.0 diesel and plan to do nothing to address the problems, then yes, you are just waiting for an eventual problem.
However, now that the issues with the 6.0 have been resolved, mechanics have found that the 6.0 is an incredible engine after the right work is done. Properly fixed or addressed preventatively, the 6.0 is probably a 500k or 1 million mile truck, as is the 7.3. Doing what it takes to get there, however, takes money or serious skills........
The 7.3 is a great engine, but the 7.3 came equipped with one of the worst transmissions Ford ever made. Most 7.3 trucks still on the road have had transmission work done, and some have had multiple transmission replacements. You can get a rebuilt 7.3 transmission that is bulletproof (there are transmission shops that specialize in this, and they can even ship you a transmission or rebuild yours), but it will cost you a pretty penny. So if you find a 7.3 in good condition, great… but be aware of the transmission issue. Also, the 7.3 had the old-style springs up front. It does not ride like a modern truck, and you may find you have to really help the truck pick its way down the road. And needless to say, the 7.3 is rapidly becoming a dinosaur. Even if you get a 7.3 in great shape, the rest of the truck is very old at this point. Plastic fades and cracks, electronics start to go, etc. Also, you might be shocked at how low payload figures are for this generation. As I mentioned in another thread, payload capacities have been climbing for years......