You will want to regear, and swap too a spring under set up. General rule of thumb for the 4cyl in these trucks is 31"=4.56's,33's=4.88's just to get back to stockish, anything less and your bogging your motor.
The 23ns is the strongest duratec of all the 2.0, 2.3, and 2.5 versions. Its the only 2.3 with out a balance shaft, a forged crank good to 7k all day, and also the only one equipped with metal timing chain guides as opposed to solid plastic. The motor is tough which is why focus guys love to get their hands on them instead of building their stock engines. The downside is that they are also the only 2.3 to come with a 2.0 head which has smaller ports to try and make a more truck like tq curve, easily solved with 2.3 head swap as neither the ranger or focus came equipped with vvt. The aftermarket for these motors is more then decent. Cams, rods, pistons, turbo manifolds, are all available. Nothing is made specifically for the trucks so if you want boost itll take some work and ive yet to see a 23ns na or turbo build on any of the ranger forums.
Is it worth it if you keep it stock?
Do people take their 80hp 22re's where no 4 cyl should supposedly go? Laughing all the way to the desert and back home with their "horrifically" underpowered bullet proof engine? Its all in how you use the motor.