lots of questions to be addressed here, what State do you live in? Have emissions to contend with? California as an example is fairly strict when it comes to engine swaps, you must still meet all of the emissions standards for the model year you are modifying.
DO you have a budget? I will tell you first hand, having done V8 swaps and 2.3T swaps in RBV's that you may think it's all a real easy and cheap thing to do. I will guarantee you will find unaccounted for costs when doing engine swaps.
Now, with that being said, I have a 2.3T in an 87 ranger, standard cab 4x4. Manual transmission options for the 2.3 Lima block are very limited, the M5od-R1 rarely came with the 2.3 bell pattern AND 4WD tail section. You can certainly take a 2wd M5OD and swap guts with a 4WD M5od that had the 4.0 bell pattern from explorer sports. those area still fairly plentiful, but if you're not versed in transmission rebuilding this adds measurable cost if someone else is doing the work.
torque curve with my current setup comes on very strong at about 2200rpm, and pulls through 3600rpm before falling off. Peak torque is at 3600rpm. I made 267ft/lbs of torque on the dyno last weekend. I spend too much time with the pedal on the floor to know what my real world highway mpg is, but I would guess easily 20+mpg highway.