If not for the pathetic jack shaft/ multi chain OHC monstrosity Ford used on it, the OHC 4.0 would be a great engine.
Very similar power to the 5.0 with better fuel economy in a more compact package.
New, the OHC 4.0 is a great running beast, but the timing chain system simply does not have the longevity the rest of the engine and vehicle expects.
Where the 5.0 shines is in potential and reliability. Tons of options to build more power into it. The 4R70W transmission commonly found behind it is a great auto box (for a 4 speed).
If you're looking for stock levels of performance, going through the hassle of the timing chains on the 4.0 is probably the better path to take.
If you're looking for long term reliability, additional power, or just being able to say "I built that!", the 5.0 is a great path.