350-400 rwhp is generaly considered to be the limit of the stock 2v 4.6. And the tranny should hold up just fine so long as you arnt always going to be foot to the floor(400 hp is the short term limit) (but lets face it, your not going turbo for the fuel economy
). I think rocket ran his for a long time supercharged at 400+? and it was run down the strip a lot. You can plan on larger fuel injectors, and depending on how much boost you want to run you may need to upgrade the fuel pumps, rails, and lines. I think its safe to say you could run 300 daily no problem, and 350 with some frequent maint, and 400 if you only wanted to run her down the strip every now and then. The 5r55w/s is considered a light-duty transmission, and you are just begging for it to break on you. there are things you can do to build it (i just spent 4 grand doing this). I thought about going turbo, running the turbo from behind the driver foglight (fl removed), intercooler placed behind the lower grill opening, and then running the pipe up and to the intake on the passenger side.. Its just a little to involed for my tastes, id rather spend the time with my wife and daughter lol.
if you plan on 4x4 launches plan on blowing t-cases for sure, and tranys pretty quick to. There is a guy on here with a high output turbo mounty that has gone through quite a few transmissions. Best bet would be to make it a mustang with an explorer body. 4x2 (also makes room for a larger oil pan, and will save you 200 lbs easy between the front diff, the shaft, and the t-case) Pull the rear seats (another 200 lbs), and then a nice LS diff leading to some wide back tires. Those mods alone would shave a half second off of you 0-60 times. Combine it with some forced induction and a propperly stalled torque converter and you are looking at a pretty fast truck. 400 horses rwhp is no joke, even SSTB's and SRT8 jeeps only get 330-350 at the wheels. and the explorer is lighter than both.
my dream build would be a TCI 6x (fully independant 6 speed auto), a 5.3 4v (bored + stroked 4.6), and a kenne bell supercharger. Could put 400 down all day, swap a pully at the drag strip, and push 600+ then drive it home.. so the next time i have 25 grand to blow thats first on my list!