The only way I'd think you will get more than 40-50 hp is with upgraded headers and intake manifold at least. I feel with boost the factory manifolds can be retained for for up to an 80-100 hp gain depending on setup.
Also high rpm hp doesn't help move a heavy suv, low end torque is what you really want. I feel in the end unless you already have boost, stroking the motor isn't worth it. That is if you already have a running 302, if you don't and a buddy has a built 347 for sale then that's a whole different situation lol.
My ranger has plenty of power for what it is and is a blast to drive. I'm running upgraded valvetrain with a .512 lift cam, FMS headers and a ported intake. I feel if I take it any farther I will loose reliability. My truck has not been on the dyno but will be spring time. I assume I'm around 220hp/250tq at the wheels now. I've put about 8k miles since the cam swap and no issues other than getting pushrod length right at first. My motor doesn't tick(after a small pushrod saga) or burn oil and it has 190k on it and the last 20k has been HARD.