With the mustang you get forged pistons, HO engine and the better heads. But with the marque, you get an engine that you know the mileage on but less desired power.
Now if you can take the mustang things and put them in the marque block then you may be better off unless the mustang block is good then it's a matter of going through like you were going to do. But you will need to run the marque double sump pan and its oil pick up tube.
93 mustang convertible mounts are what you want or you could do the 4.0 mounts and 1/4 steel plates , which are more desired, write up is in the tech library on those and the mustang ones. Since you have ttb front suspension, like all 4wd rangers do from 83 to 97, I would recommend the plate mounts since it allows the engine to sit higher and so you can get the drain plug out unless you plan on moving the drain plug.
Your FEAD to rad clearance is great but to get the most accurate, mount your water pump on. Also you will need at least a 4.0 explorer rad to keep her cool and what I recommend a good electric fan such as the Taurus 3.8 efan.
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