well i think most of you're questions got answered already. but i may be able to help some..
first my opinion, which is that i'd wire up the 4.0 and keep it's trans etc and run it that way.. fuel injection is nice to have, and the 4.0 will get much better mileage than any carb'd v8 ever will.
that said, ANY 302 or 351w can be run with a carb easily.. if you got a late model 302 or 351, the only thing you'd need to do to make it carb'd would be bolt a carb'd intake onto it, a points style distributor, and slap on a carb. simple as that.
the explorer's axle is an 8.8, which is the same axle all ford half ton stuff came with starting around '86 (broncos, f-150's etc) so it's a plenty strong axle. a 9" would be an upgrade yes, but too much hastle in my opinion since the bolt pattern wont match, it'll be wider than the front, and you'd haveto modify the spring mounts and all to make it fit
if you do decide to do a v8 swap (which i'd probably try to talk you out of since i like the 4.0 and EFI etc) you're going to have to fab up engine mounting brackets, trans mounting brackets and crossmember, you may have to modify you're steering box (or else mount the engine up high so it doesn't conflict with the box) and you may have to modify the crossmember under the engine to clear the oil pan of the v8. (or else mount it high...)
i'm in the middle of doing an essex v6 swap (v6 mustang engine) into an explorer right now, and so far i've modified the frame rails, made engine mounts, cut out the heater box, cut out the battery box, chopped up a bunch of other little crap... it's really turning out to be a bit of a project. and even with all this, the engine's mounted a bit on the high side (i dont think the hood will clear) and it's off center, and crooked
