Yeah boy it's possible, cause i just did it to my 97. Best mod i've ever done, the power difference is unreal. There are alot of little things you will have to have and alot of time and patience. I don't know if you even messed with a tranny job but i did it myself for about $1500. I had a guy build the tranny for me for 600 with the extension housing. Here is a list of parts you are going to need:
-wiring harnesses are the same along with the computer, but you may have to rig up some wire like i did for reverse lights, no big deal
-shifter boot
-plate that goes between the carpet and floor board
-shifter, bolt and nuts
-clutch petal assembly, comes with brake petal all together ready to bolt up
-clutch start switch which mounts to petal
-cluth master cylinder, have to bench bleed it before you put it in
-slave cylinder
-hydralic line, i'd buy it new from ford
-clutch set itself(disk, throw out bearing, pressure plate
-new flywheel with pilot bearing
-plate that is between transmission and motor is different too(found that out the hard way)
-starter is different
-going to have to cover up the gear letters on dash(did it with electrical tape) and probably take out your "OD off" light cause it will flash
-extension housing is different between the 2 but the mount IS the same
-going to have to take out your auto shifter abviously and get the piece for the lock cylinder, key switch, from a manual ranger or x to replace yours cause you'll have a big hole in there
-flywheel bolts ARE the same too!(bolts it to the crank)
-need bolts that bolt pressure plate to flywheel, metric
There are no cables to mess with so that a good thing.
Right off the top of my head that's all i can think of. I did mine about 2 weeks ago i wasn't in a hurry when i did it cause i had a company truck, and i had to wait on parts so it took me about 3 weeks, the biggest part like i said was waiting on parts. But like i said i did mine myself in my drive only because i'm in college, i'm getting married and i just replaced my auto back in feburary, which equals--I'M BROKE!
If you have any questions at all please email me or i'll even give you my phone number if you are going to try this and i'll tell you a few tricks, it's no easy task at all but it is possible and the out come for me was great, i love have a standard and i love the power difference! Good luck
jot017@aol.com