SOHC has a fair bit more HP and a tad more torque (I may be wrong on the torque comment). It's considered an upgrade when you were buying a brand new Ex and standard fare on the more expensive Explorers with V6 engines (Eddie Bauer, Limited). Don't fret, many people swear by the OHV engine. It's been a real workhorse in the Ford stable for a while. I've owned Explorers with both, and while I much prefer the SOHC engine, OHV wasn't bad.
Keep in mind that aftermarket parts for SOHC engines don't always fit OHV, and vice-versa.