I have purchased recently a cash truck. 04 1500 4x4 w/ 4.7. I cleaned the throttle body, replaced tps, ips, o2 sensors, and plugs. Truck has 209k on it. It ran rough when I got it but with the sensors replaced it idles and runs smooth. It still feels like it doesn’t have much get up and go. I do have 285/75’s on it now but don’t think the tires are that big. Is the 4.7 just that weak or should I look at other possible issues?
Depends on what you expect, probably. I have a 2004 Dakota QC with a 4.7 and 3.55 gears, and it is quite peppy. 0-60 around 7.5 seconds, will burn the heck out of the rear tires from a dead stop, even with a LSD. That said, I realize the Ram is 1000 lb heavier, at 4225 lb for the Dakota and 5216 lb for the Ram (both 2WD). Your 4WD would add a couple of hundred more. Even with that, I can't imagine the 4.7 being considered a total dog. But not having driven one, I should probably stay out of this discussion.
Have you considered picking up a later model (I think 2008+) 4.7 out of a wreck? The changeout would be relatively easy, and the later 4.7's are 310HP vs the 230 yours has, with 330 lb-ft of torque vs the 295 lb-ft of the earlier 4.7's.