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Standard volume oil pumps in my opinion. High volume will flush more oil through your oiling system, but if you run the bottom end out of oil, you will do bad things.
Clearance the engine properly and you will have no problems with a standard pump. Plus, you'll gain a tiny bit of power the high volume would otherwise use.
Now, if you have a ton of power and will spend all your engines time at low RPM.... get the high volume.
I'm generally in favor of the standard volume oil pump as well. One thing that wasn't mentioned was that you can have pump to oil pan clearance problems with a high volume oil pump and certain stock oil pans.
I hear a lot of people bashing E7TE heads, but I think they are pretty good for stock heads. If you use a carbide burr to remove the thermactor bump and expand the exhaust ports, then do a little cleanup on the intake side, a real amateur port job can make them a pretty usable head for a junk yard price. Of course, I would recommend some good aluminum heads like the TFS track heat if you are going to spend any money.
well its going into an 89 ranger 4x4. I plan on lifting it and putting somingthing like 35's on it. I want enough power but dont need to do the quarter mile in 10 seconds.