The 148thFS is part of the 162ndFW which is actually just a training wing operating out of Tuscon IAP. Also in the 162ndFW is the 152ndFS operating block 42 F-16C/D's, the 195thFS operating perhaps the oldest F-16's left in the US in block 25 F-16C/D's, and then there is AATC, a test unit for the Guard and Reserve operating block 25/32 F-16C/D's.
The 148th is a training squadron for the UAE F-16E/F's and are flown by both USAF and UAE pilots. While I would imagine some if not most of the aircraft have not even been to the UAE yet, that's where they will all eventually go because they paid for them, not the US or the USAF. The US offers these sorts of deals when foreign Air Forces elect to buy US aircraft.
The CFT's are horrible looking, but the AESA radars and GE F110's with 32.5k pounds of thrust have to be a blast!
[Edited 2009-10-30 10:57:00]