do you know what oil was used in the motor? I have heard of guys using 10W 40 and 20W50 and all the heavy oils used in older motors. The new Mod motord 4.6L & 5.4L require 5w30(20). There is an issue with oil starviation when using heavier weight oils.
If your trying to save a few buck and do it yourself I would try to put the truck up for a day or so. I would pull and mark all the main and rod bearings. Where you don't know much about motor internals I would than take the bearings to a reputable machine or motor shop and ask them to look at the bearings to tell you what is wrong. Tell them you have a low end knock and these are the bearings. They should be able to look at the bearings and be able to tell you a lot about whats going on with the lower end. They might even be adle to tell you what cylinder is causing the knock(hence why you need to carefully mark what bearings went to what cylinder). They may even be able to tell you of more motor work needs to be done of it just replacing a bearing would fix the problem. I put parts into individual bags and mark the bags.
At 110K you might be able to get away with just repalcing the bearings. I would replace all of them at the same time but thats just me.
Try to take pictures of the lower end parts without the bearings in it if possible. To show to the machine shop so they can see the condition of the metal that contacts the bearings.