The first report has returned from L.A. and it comes from Joel who attended the Sallen press conference at which the company unveiled its Sport Truck S331. The F-150 features Ford’s 5.4L SOHC V8 and a unique, patented high-flow Saleen Series VI integrated twin-screw supercharger, which enables the motor to produce 450 hp and a monster 500 lb-ft of torque. A non-S/C version will also be available that will make 325 hp and 400 lb-ft of torque.

Tons more pics and info on the Sport Truck S331 after the jump...In addition to the engine treatment, the S331 gets twin side pipes, a Racecraft suspension with linear-rate coil-overs around the company’s N2 shocks, a tubular anti-roll stabilizing bar and urethane pivot bushings. Those wheels measure 23 inches in diameter and feature seven fat spokes.

Inside the S331 Saleen has wrapped the seats in double-sticch leather and thrown in race-style pedals, integrated silver panels and bezels, as well as a twin-gauge pod display above the center console.

With no SVT Lightning on dealer lots at the moment, this looks to be the only Blue Oval-badged performance pickup able to take a Dodge Ram SRT-10 to task. Saleen says it will come with a 3-year, 36,000-mile warranty and list in the high $30K range for the NA version and high $40K for the supercharged version.