Check out the lift options thread here:
http://www.explorerforum.com/forums...port-trac-4x4-lift-options-discussion.231158/. There are allot of great threads in the "Useful thread" link at the top of the ST forum.
For pictures of mine with a cheap 5" lift and 35s, check out my registry linked in my signature.
As for spacers, they will wear out your suspension components faster than normal. They also require you to take them off and re-torque them when you rotate tires and change your oil (5-7k miles). But if taken care of, the can offer a good look without being catastrophic. The 2 most important things with spacers - 1. Make sure they are 1.25" or thicker (I wouldn't go any thicker than 1.5" though) so that the stock stubs are completely covered and you don't need to cut those shorter. 2. Make sure they are hub centric and sized to the hub diameter of the Sport Trac (the number is fleeting my thoughts right now, but you can find the info on google).
Hope this helps.