for 80-94 ranger use a mustang 5.0
for 95-current(95-97 will need mustang dual sump pan and engine
mounts(mustang convertible mounts are cheapest)
use a explorer 5.0 from a 96-01 explorer(all the wiring will drop into place, in a 98+ ranger 4x4/edge it will bolt in and look factory)
stay away from the truck 5.0 it has the long accessories and huge intake,
for trans, 4r70w with the explorer setup/ecu be my choice, or a m5r2 from a 97-03 4.2l f150 if manual(places the shift in the right place). if running mustang and 2wd then the mustang trans or AOD or c4 or etc.
so my recommendation is find a good 96-01 explorer for a donar, hell the sohc 4.0 from a 2002(?) puts out 210 and will be bolt in for any ranger using OHV mounts for 83-1997.
for a carb setup and c4 trans get a 83-85 with a 2.8l and c5 trans and make a c4/c5 hybrd trans using a c4 bellhousing/ throttle body on the c5, the all the stock drive shafts will bolt in place
that should get you started, the f150 is a bad donar, for similar strenth on the 83-97 rangers run a dana 35 up front and ford 8.8 from an explorer out back and that will give you close to the same strength as a 80-96 f150
if i where to do another v8 ranger,
step 1 find a donar explorer
step 2 go to junkyard and find a 95-97 ranger, purchase some mustang convertible mounts from parts store
(if 95-97 is unavailable find a 83-97 frame and 95-current body)
step 3 swap everything into 95-97 ranger from explorer(wiring and all including air bags into dash/ all you need is a bare cab)
step 4 install 2000 radiator support and drill to holes for old frame mounts and install 2000+ front clip(for style)
step 6 install explorer disc brake 31-spline 8.8 from donor(only welding required, that and core support if you want)
6. get some new driveshafts
6. step back and thank me of all the time and frustration miss by not installing an f150 drivetrain and look at your factory looking v8 ranger in the drive, already with explorer buckets and seats swaped in from the exploerer that had all the parts you needed(minus engine mounts)
then look at the ttb you retained ready for some wheeling or lift or camburg setup. you can use a 98+ ranger for 100% bolt in but the ttb is better offroad in my opinion and lifts are cheap
ive tried a v8 swap on my old bronco ii, and it failed and turned into a money pit, and used a f150 for a donar, i look back at the frustration i had and think to myself i should have bought an explorer or mustang 5.0 to begin with, but live and learn i guess.
now i have a full-size bronco with a v8 from the factory , $700 i paid for it, and i have already driven it more than my bronco II i sunk 2k in trying to get going(i was young and dumb and bought all the wrong parts) in the end the bronco ii wasent road worthy, and the used parts i used where garbage.
also if your really set on using the f150 drivetrain, why dont you just swap a ranger cab on a f150 frame?
done with rant lol, but this is my 2 cents