when to rebuild
#1
#2
If it runs good, by all means keep running it. I don't know about the 2.9 v6's, but a good preventive measure on a v8 that has high miles and has never been opened, is to replace the timing chain and gears. The original ones had a aluminum gear on the cam that is coated with plastic. This flys apart after awhile, and the chain gets very loose.
#4
i had a 85 ranger with the 2.8 carb'd v6 with high miles as my first truck at 16. i put the truck thru livin heck. i just kept the normal oil changes and such done and the truck still had a good solid motor when i sold it 3yrs ago. the main thing is just watch over heating the 2.8 and 2.9's they tend to crack heads and such much easier than others do.