you found an explorer 8.8 w/ the perches on top?
or is it a ranger 8.8(probably this...)
there is a difference. the ranger is a 28 spline and the explorer is a 31 spline. personally if you gotta buy something, just get the stronger option now and weld perches on top. ruffstuff (awesome company) makes a simple 8.8 swap kit.. but you can home fab cheaper if you can weld...
if i was you, i'd find an explorer 8.8, disc brake, and 4.10 gears. limited slip if you dont' wanna weld the diff or buy a locker... or open carrier if you want buy an aussie locker for it. need an open carrier for that.
also, find a d35 ttb front axle...4.10's in those are RARE!! and expensive. that's one of the reasons i went to 4.56's...
explorer coils/leafs, washer lift, and shackles with cut fenders could probably get you to 32's or so.. add a small body lift and could get to 33's... maybe more. used RC 4" lifts go for CHEAP.. i'll have one for sale here soon.
if you have the CV rear driveshaft... change it now or expect to change it soon...
edit: OH YEAH, WELCOME!