he doesnt even have to get the F150 springs. He could pick up a set of spring spacers. I dont know where he is from but i live in Clackamas, OR and i can get a set of 2" spring spacers for about 30 bucks, and the factory 4x4 ranger blocks from upull it for about 10 bucks. or i can buy a new set of 2" blocks from auto zone for about 20 bucks.
That would be a cheap suspension lift. and yes it will get the frame higher and with biger tires it will be even higher.
Yes you can buy pipe and washers for the body lift but it will cost a little more. I bought pipe to lift the bed of my girlfriends toyota and it ran about 35 bucks just to do the back. but that was pipe, washers, nuts & bolts. So it might run you about 70-80 bucks to do the body lift. ( I got the stuff from Home Depot) but for that price you can pick up a 3" body lift on ebay for 100 and it has every thing you need to do it. Like the brackets for the bumpers and bracket for the shifter.
If i were you i would go with the cheap suspension lift, Like i showed you, you can run 31's on a stock 4x4 1st gen. and if you have the money you should then do the body lift.
But thats just me.
Hope everything works out for ya.....and i wanna see some pics..some before and after.....