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Hmmmm... Where do I begin? Depending how much money you throw at it, is how much horse power you'll get.
5.0L is a very nice motor. My friend and I put a EFI 5.0 HO in a 1979 ford fairmont station wagon. It's real fast now.
If you decide to do the 5.0L swap, be glad you're not going from carb to EFI (gas tank will hose you). Eaiser to stay EFI, or go from EFI to carb, then to go from carb to EFI. I'd get a painless harness to save a few weeks of divorcing wires from the old wiring harness.
Easiest way to do the swap is to get the donor car and pull the engine and transmission out. Make sure to look into the oil pan, I know the Rangers need a special oil pan to fit. I think you're strait on the motor mounts, just gotta get new ones. You'll need a new drive shaft, new throttle cable (depending on the 5.0), etc... etc... etc... You'll prolly need new front coil springs to make up for the extra weight.
I don't know man, with engines you just gotta do it.
With about a $3000 2.9 Rebuild (EVERYTHING), it would be faster than that 5.0L. You put the same amount of aftermarket parts on that 5.0L, you got a 400+ horse motor. (5.0L cost + aftermarket parts) = $$$$$$$
It's up to you.
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