Dealing with the 5.0 swap into a heavily modifed and Z'd frame has not been easy at all. Most guys with Z'd frames use the 4cyl motors as they are obviously smaller and easier to work around.
I have no intention of cutting a hole in the hood with the motor sticking out and no intention of using some bulky aftermarket cowl hood. I was able to get an Edge Powerdome hood which does give about 1" more inch of clearance which helps some.
After moving the motor mounts like 6 times, and going back and forth between the 5.0 mounts/Plates and the 4.0 mounts/RicksRangerz Plates I moved the motor yet again yesterday and was able to move the rack back about 1/2", which in conjunction with the notched oil pan I previously modified and adjusting transmission crossmember some more I seem to have solved the problem and got it all under the hood, while still clearing the steering rack and radiator fan.
Every time I moved the motor mounts, it was either hitting the hood, the radiator, the firewall, or the steering rack. I could never get it to clear them all. Finally now they are all still very close but all clear, and now the only interferance I have is the wiper motor hitting the intake plenum and the top of the M5OD-R2 hitting the trans tunnel in the shifter hole area, so I will just need to modify the wipermotor housing and notch/raise/plate around the shifter hole, which looks like it will still fit under the Explorer Center Console... So I think I can move forward finally.