I had a '83 Ranger 2.3 that I built up for street use. Forged TRW flattops, Crane cam, Holley 2305 carb, and I used the early head.
Went like a raped ape, but got about 15 mpg on the hiway. (3.70 gears and no OD). I sold it before I got a chance to fiddle much more with it.
You might consider an early 2.0 Pinto engine. They were screamers, but getting more rare since they've been out of production for 30 years. If not, I bet you can get 200hp out of a 2.3 without huge mods. Can you run solid lifters? BTW, whatever you do, get rid of the stock rod bolts and get some good ones, like ARP. The stock ones will grenade. And get the cam bearing mod done to that early head. It'll make your valvetrain live a lot longer.
The only 2.3 that has a longer stroke is that 2.3 HSC engine found in Tempos (among other things). It's an OHV engine, and doesn't have any compatible parts with an 2.3 OHC.