Hate to break it to you, but you'll end up spending as much or more on the V8 swap you're planning. Might hurt your feeling to hear that, but I'd rather your feelings be hurt than your truck be junked because you followed a bad plan. Nothing about your donor is a good choice, even for free. It will cost you more in the long run than finding that $2000 Explorer donor, and possibly more than your $7K 2.3T build.
Let me be honest with you, even with a free drivetrain a V8 swap isn't cheap. Initial investment may appear that way, but it isn't. Especially so with what you are talking about using as a donor, unless that F-250 had A LOT of engine modifications and work done that you haven't mentioned. Just the swap itself is going to require special engine mounts, special radiator, headers to clear the frame rails, exhaust, etc. You can figure $1500+ just for the parts to drop the engine into the hole. Couple hundred more for a drive shaft to connect it to the rear axle. Being a 4 cylinder it probably has the 7.5" axle, so a couple hundred more to swap in an 8.8 from a V6 Ranger. You're already $2K invested into the initial swap.
At 30 years old and unknown mileage, you will be rebuilding that engine sooner than later. Basic rebuild you're looking at 1K plus for the machine work it's going to need, plus materials and labor if not assembling yourself. Figure atleast 2K on a stock rebuild if you aren't doing the assembly work yourself. (Honestly, I think $1500 and $3000 would be more accurate numbers for those.) Then factor in doing it again when the flat tappet camshaft wipes a lobe, something that seems to happen more often than not with current production parts. Then figure on a third build when you figure out that you are underwhelmed by the stock F-250 engine and want better. To get a decent engine out of the rebuild you'll be looking at cam, pistons, heads, etc which will add a couple K more to a basic rebuild. Then add more on the electronics to run that new engine because it won't run on the F-250's speed density EFI system.
If you're thinking about running the transmission that is in your truck, forget about it. Even with the low power ratings of that F-250 engine the stock 4 cylinder transmission won't last. If the F-250 has an auto the transmission is most likely a C6 which is not a good fit for a Ranger's transmission tunnel, and is most likely going to require a rebuild in due time from the age and mileage. Not a great transmission choice anyway due to being Non-OD. Figure on 1.5k+ to rebuild or upgrade the transmission to a better unit for the application.
Doing the engine swap with the planned engine is going to run you several thousand in the long run (but probably not very long time wise), plus add a bunch of weight to the front of the truck with very little gain in performance.
The 2.3T can be done for less than you claim and doesn't have to be done all at once. A small bump in power could be handled by the stock computer as demonstrated by another member, then the EFI system can be upgraded and adjustment made for more power at a later point. If you insist on continuing with the V8 swap, purchasing a complete (relatively) low miles V8 Explorer would be the best and cheapest starting point for it. Or, forget about begin cheap and go all in from the start.
If you'd be happy with the 140-150 hp of a F-250's 302, you would be better off buying a truck that already has the 4.0L installed in it. As much power, lighter weight, better price, and better maintainability. Hell, I'd venture to say that even a 3.0L truck with the right gearing and tires would be a better choice that what you are considering.
With that I'll try to refrain from future involvement in this thread. I've already said more than I should have, and if it keeps going as it I'll just end up doing more.
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