Last I checked there was a wiring diagram for a '91 Ranger and '88 Turbo coupe in the tech library, compare the two and go for it... ('91 and '94 are close enough) I would keep the M5OD if the '94 is a manual truck, much less work and they're plenty up to the task...
If it were me, I'd keep the DIS, it's just a matter of mounting the crank sensor on the front of the engine and mounting at least the passenger side coil pack. If you do go this route and just run on 4 plugs, splice the outer two wires of the drivers side coil pack to the passenger side pack (make sure to trace back to be sure to splice the right wires, IE the left wire on the connector goes to the left wire of the other connector, and right to right) and the tach will even work. To get it to work take the crank sensor off the Ranger engine with bracket, take the front seal housing off and make a template for the 3 holes needed for the crank sensor, transfer to the new block and drill/tap to 6mm, use a shouldered bolt and cut the head off then loctite in place for the one stud, the front seal housing you will have to notch one hole, but otherwise will bolt up.
Use the Ranger oil pan, it'll bolt right up.