easier?
Carbed or EFI. More like cheaper and hack job.
Its a loaded question.
When Ford put the 5.0L into the explorer they made it ALOT easier for you to stuff it in yours.
The reason being the exhaust manifolds, serpentine front dress, intake shape and layout, etc.
However a carbed version can also fit, and you can add these features to an older 5.0L.
Every conversion is different, so there is no one answer.
the tricky part about using the late model 5.0L from the explorer is the PCM, and transmission.
You can put a distributor in the engine and run it just like a Mustang 5.0L conversion.
You can even then use a Buamman 4r70w trans controller to take care of the shifting duties for the 5.0L ex trans (4r70w)
Or you can do like I did and use the stock PCM. My gt-40 has EFI, MAS, OBD-II and a factory computer controlled 4 speed auto.
Or you can run a carbed 5.0L, but the amount of hacking and $$$ you spend on the conversion is completely up to you.
It has been done every which way possible, from $1000 over a weekend (hack job, even saw one with wire nuts on the harness!!!) all the way to $15,000+ high HP converisons