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The trans is fine, I rebuilt it last year. The engine doesn't sound great, it sounds like a lifter is dying and I'm not going to change a cam in this thing.
What it will get is an OM617 mounted up to an M5R2. I'm already putting this combo into my Courier, once I have that done I'll know what not to do on the next one. The Explorer will be easier since it's already 4x4 but will probably need a modified oil pan to clear all the stuff there.