I debated a Tundra CrewMax vs. a Ford Ecoboost CrewCab and went with the Ford, although I've owned a Ford (Ranger) for 10 years, and a Toyota (Tacoma) each for 10 years and 200k miles. The Toyota has been in my experience far and away the better quality, more reliable vehicle. I swore I would never buy another Ford, but broke down and bought one.
I drove the Tundra and F150 before buying my current F150 and actually like the Tundra better but the F150 gives me the ability to tow 11,100 lbs and has a 6.5 bed (Crew Cab). One thing I will never do is have another 5 ft bed like I did on my Tacoma again, and the Tundra for 2014, although I was hoping it wouldn't, continues the same bed length in the CrewMax (5.5 feet - in the CrewMax).
Look at what you're trying to do. If you don't need a 6.5 foot or longer bed (again CrewMax), and don't need over 9,100 in towing capacity, get the Tundra. No question, hands down, get the Tundra. Toyota is just flat out better. You can argue all day, but Toyota is better quality, and it holds its value longer. 10 years from now, someone will still pay up for a Toyota. Ford? Forget about it. Bottom dollar, if that.
If you need more capacity, go with the F150, but make sure it's properly equipped. Although Ford advertises an 11,000+ towing capacity for the F150, you have to get it properly equipped - with the Max Trailer Tow package. I also got mine with the Heavy Duty Payload package (very rare, but it allows you to realistically tow a 10,000 lb trailer). Toyota, on the other hand, advertises a certain towing capacity for the Tundra, and outfits nearly every one to do that.