What does the oil look like, does it smell like oil or really bad, like a lot of stuff is in there too, which is a bad sign.
When you start the disassembly, look at the bolt heads, see how much wear there is, do they look like that have been taken apart a lot of not at all.
Pull the heads, see if the head gaskets are showing signs of leakage, look at the heads, check the valves do they look clean, is there rusting anywhere on the head/block surfaces indicating a blow by condition.
When you pull the oil pan and the intake, look for excessive oil/dirt-sludge build up in the valley area and in the oil pan, if there sludge then it is an indicator of the engine has blow by problems and probably was never rebuilt.
If there is a lot of sludge you will need to look at the bearings, mains, rods and cam, they need to be checked for excessive wear.
When removing the Main Caps and the Rod Caps, keep them in order, in fact take a needle punch and mark the main caps, if not already OEM marked, 1,2,3,4 and the Rods and Caps for each one, 1,2,3, etc.
Once this is one start to remove the Rod Caps and then the mains and take a look for wear and as stated copper showing through.
OK now here is where you need to decide is it worth a rebuild or just go get a low milage Explorer setup and use it.
Check the cylinders for two things, is there any cross hatching on the cylinder walls, a sign on recent rebuild and how much of a wear ring has formed at the top of the cylinders, that will indicate how much wear this engine has seen. a deep wear point indicates a lot of miles and/or hard use, (use you finger nail, run it up the cylinder to the top, if there is wear then your nail will catch and you will tell just how deep it is.
The wear ring at the top of the cylinder, if deep has to be removed before disassembly is done, to reduce any further damage to the block and possibly the pistons.
Also check the cylinders for any deep scratches, not a good thing.
If the motor is clean inside you can assume there has been work performed on it, how much is a call that I can’t make from here.
If the engine was running bad then it could be valves, head gaskets, plugs, cam, bad rings, broken piston, and the list goes on.
I can go on and on but use your common sense and see if it looks like work has been done, question being how long ago. A clean block and head will indicate this might be a good engine but look around.
Good luck on the 351W, it will be extra work to put in a Ranger, extra cooling problems and exhaust headers will need to be all custom.