Read in the tech library about swapping parts in from a turbo ford (all were the same 2.3) from the 80s. The stock block, crank, and rods are actally quite strong and will put up with fairly intense amounts of boost. The cast ranger pistons are a different story. Any boost at all is playing with fire if you have stock pistons. You can boost them, and some people have with good results, but you're really just asking for disaster.
If you want to turbo it, get forged pistons from one of the turboford cars (I see these pistons on ebay regulary go for < $75 a set) and put them in your engine. Then slap the turbo on, along with a computer and fuel injectors from one of the turbo cars, and boost to your heart's content.
I know taking the motor out to swap pistons sounds like a lot of work, but compared to the other options to get more power, it's not so bad. It's less work than even a 3.0 or 4.0 swap, and the end result is a faster truck than a 3.0, 4.0, or even a mild 5.0 V8 swap would give you.