yes, I've done it to two blocks...
Is your '94 block ok? It's honestly a better block to use, the ONLY difference in a turbo block and a N/A block is the oil drainback hole on the passenger side. If the bores are in good shape and the turbo pistons are in good shape I would combine those two.
The problem you run into on '84-85 blocks is the rear bearing cap is meant for a different type oil pan seal and you can't use the Ranger cast pan as is and the front seal housing for the crank sensor doesn't match the steel pan... I've dealt with this two ways, first was filling the trough in the rear cap with JB weld which settled and didn't seal all that well, next go around was to make a mold from brake clean can and made a lead bar to form into the trough which worked fine but was a pain... and the older block has bigger main bearings so has a tiny bit more friction (they swapped to small bearing in '86 I believe)
Getting the crank sensor to fit isn't too bad, make a template off of the original block referencing the alignment post for the crank sensor bracket, a couple front seal housing bolts and the bottom of the block (I used beer box...). I think there's two 6mm bolts needed, for the alignment pin I used a long 6mm bolt with a long shoulder and loctited it in place. You have to slot one of the front cover housing holes but not a big deal.
The only wiring change from the factory harness to run 4 spark plugs instead of 8 is if you have a factory tach, it won't work with the drivers side coil unplugged, simply cut off the connector and splice the 1 and 4 wire to the one for the passenger coil and the 2 and 3 wire to the one for the passenger coil (center wire just cap with a butt connector or something). It is IMPERATIVE that the DIS module is grounded to the 3 bolt holes, I know this from experience, it'll run until it doesn't which is random, it's how I rolled my '90...