aintskeered,
These 2 engines are so similar but so different.
Of the similarities, they both respond VERY well to:
- better flowing exhaust
- headers
- a little extra compression
- lose the crank shaft driven fan and clutch
- tip top functional cooling system
To get more compression with the 2.9L, use Ford 2.8L flat top pistons and up to 0.035" mill on the heads.
To get the same compression improvements from the 4.0L (with up to 94 series heads), use Ford SOHC 4.0L flat top pistons and up to 0.035" mill on the heads.
Neither set up will require tuning if used with 94 or older computers (86 to 91 2.9L or 91-94 ohv 4.0L).
Both engines appreciate not spinning that archaic fan and clutch, using an electric fan or set of them instead.
Using a better flowing exhaust with headers and no crank driven fan and 100% stock engine made the passes a breeze with my 2.9L. The same engine rebuilt with a balanced bottom end, flat top pistons and flow bench port/polish heads/intakes, the overall driving experience was so much improved, that it's hard to explain in words.
I can assure you that rebuilding your 2.9L will cost less in the end as I have rebuilt both the 2.9L and am currently finishing up a 4.0L.
• The replacement parts for the 2.9L are REMARKABLY less expensive
• no rewiring needed
• the 2.9L will get better fuel economy than the 4.0L...no matter what
• for serious off road intensions, I am inclined to agree with Rusty, a built 302 or 5.0L can deliver a new plateau of power.
In summary,
* rebuilding a 2.9L with flat top pistons and a free flow exhaust without the crank shaft driven fan/clutch will be an incredible improvement. [25 to 33 mpg are reasonable]
* swapping in an ohv 4.0L will cost more, use more fuel and be require more effort but will provide more power and torque and a non adjustable valve train. [22 to 28 are conceivable]
- the primary reason I suggest this will cost more is to achieve the same level of reliability from the ohv 4.0L as the rebuilt 2.9L, it will also require a rebuild and subsequently use more fuel.
* a mid size truck/SUV with a stock v8 isn't much improvement but a BUILT V8 is a HUGE difference in power. I've never made more than 24 mpg from any V8.