The engine will not start when the theft light is flashing and the odometer reads -----. If you continue to turn the key on and off, it will eventually (5 minutes) reset and start normally. Took the truck to a Ford dealer and they recommended replacing the anti-theft antenna assy in the steering column. $400 dollars later the problem wasn't fixed. I lived with the problem for a few more months, the problem was getting worse. I went back to the dealer and they said it was the instrument cluster. $600 dollars later it was replaced and the problem appears to be fixed. I wish it could have been correctly diagnosed the 1st time.

Update from Jul 2, 2011: Theft light flashing and engine not starting problem is back, I'll update when fixed. This will be my third try at Don Davis Ford in Arlington.

Update from Nov 25, 2011: The problem hasn't been fixed, but I found a way to reset the theft system. If the theft light is flashing and the truck won't start, leave the ignition key in the run position for about 90 seconds. The theft light will stop flashing, turn the key off and try to restart. This happens to my truck about once every two months. Wish the dealership would have told me this, it would have saved two tow truck charges.