The engine bay of the Explorer V8 and my Ranger with the Explorer engine are identical - I had a 1998 V8 mounty before we got the '03. (BTW, the '03 has way more room under the hood).
As for the differences, not sure what they would be. Take a look at my picture page, there are some shots of the engine out of the truck, showing the belt routing.
When I remove the air box, I am able to reach in under the upper radiator hose, from where the air box is. Almost from the side. I put an offset craftsman professional box end wrench on the pulley bolt at ~9'oclock position (wrench horizontal pointing toward passengers side). Pull up on it, release tension, let the wrench down until it hits the frame and it stays tight. Re-run the belt, pull up, slip over upper-center idler and release wrench.
Do you have any pictures of the 96? I would be interested to see differences. As for the oil cooler, are you speaking of when you are on the underside?