This pic is a few weeks old, the wiring is now done and the engine runs. Still need a driveshaft though.
These engines are really low, hood clearance is not a problem. The 2.5 is currently sitting in the Mark VIII's engine bay and it sticks up above the cowl. The 4.6 is the same length as the 2.5 so there's plenty of clearance front and back. I tucked the radiator under the core support so I could use the Mark VIII's electric fan, no other reason.
There are no aftermarket headers for this swap and the only factory manifold that fits is the driverside from a Cobra. For cheap headers I bought a pair of damaged '96-up Cobra mid-lengths, cut them up, and turned them into a pair of tri-Ys. They work good but I'm going to make a new pair this winter from scratch so I can get them to fit just right.
Keeping the AC would involve a little work. I was told they used the rear heat/ac from an Econoline van in the Lightning Bolt Ranger. That may work here also. I have heard of guys moving all the heat/ac stuff under the dash (Mustang unit?), that would be another option. Keeping the AC wasn't a concern of mine.
There is a guy who claims to have a 4.6 sohc in a '98 Ranger 4x4, but I haven't seen pics yet. The 4.6 oil pans are really short in the front. I've looked at my '98 Explorer (5.0) and it doesn't look like you'd have to mod the pan much, if at all. Since the 5.0 Explorers and 4.6s both use the 4R70W a tailshaft/housing swap should be all that's needed.
The '98-up Ranger 2WD and '95-01 Explorer 2WD would be the easiest to do the swap, I can only guess on the 4x4s. The rack-n-pinion steering is the big plus. The steering box on the earlier models would be troublesome. There may be other issues too, but I don't know.
Check these out if you want to see more pics.
http://www.cardomain.com/ride/2052265
http://281ranger.homestead.com
Greg