you don't get all the oil out of an engine when you drain it. probably get 80 to 90% at best. Anybody ever had to do an inframe or bearing roll in or any other sort of repair that involved being under the engine with the oil pan removed knows that if they spend any amount of time under that drained engine knows they will look like a spotted owl by the time they get out from underneath. That is why its pointless to try to get that last ounce. You never will.
its like everything else on this subject. the oil pan has a nominal 12 quart capacity on these pickup truck engines. then you have a dipstick which at best is just a method of gaging a liquid that is laying in the pan. if it is a quarter inch over or under it really doesn't matter. Seriously, you just don't want the oil level so high the crankshaft throws start going thru the lube oil and churning it into foam, then you lose pressure. As far as being underfull, obviously you want as much oil in there as is safe, but the main problem with the oil being low but not too low is just that since oil also acts as a coolant and there isn't as much in there as should be, it gets hotter than it needs to be. Only time low oil level causes low oil pressure is when its so low you start sucking air, such as when stopping quickly or going around corners.
If you think about it (overanalyze it)

The only reason that manufacturers recommend changing oil when oil is hot is to get the maximum amount of old oil out of the oil pan. And when that hot oil comes out fast, it sweeps out particulates that settle in the bottom of the pan because the oil comes out like out of a fire hydrant like someone said.
The Fumoto valve probably Doesn't do harm, but I'll never be convinced It's worth getting