I have a 03 F450 with 6 speed and 7.3L, with about 180K miles.
1st - I love diving this truck. Yeah, any new diesel can blow the doors off, but not too many left with a handshaker. And I just love this truck. Its a perfect size for what I do with it and runs very well. Unlike you though, I have had some rust issues to deal with.
I have gone through the cooling system in mine, not because of overheating, but the age old repair water fall: The water pump bearings went out, replaced the water pump, might as well do the thermostat and housing, hoses, fan clutch and add a coolant filter. A few weeks ago, the top tank on the radiator sprung a slight leak. In went a Mishimotor radiator.
Definitely flush the cooling system. There is likely a ton of crap in there. Couple other things to think about:
- Exhaust leaks from manifolds or up-pipes will spike your ETGs and overall temps as well as lose power.
- Fuel pressure is critical to the injection system. And the 97's still have a mechanical pump. Low pressure, high demand will spike temps.
- 35" tires a re a bit big for heavy towing. With a warped clutch already, you could be simply slipping all the time.
- I don't know if the 97 has that weird warm up valve on the exhaust side of the turbo, but that can be a fail point and reduce boost and spike temps too.
A few years ago I fixed an exhaust leak and oil leak by replacing the up-pipes, turbo (with wicked wheel, and eliminated the temp controller), pedestal, oil cross-over, etc. The up-pipes were an experience I will not re-live, no matter how much I love this truck. But it runs so smooth and with very good power now. Still leaks oil from the HPOP though. That's the next project after the replacement dump body.