Ã88
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I'm heading out to get the 5.0L and AOD tranny tomorrow. $25. Can't pass it up... It's out of an '89 Mercury Grand Marquis. Not a whole lot of power, 150hp and 250 ft/lbs I think. But with headers, decent intake, and maybe different heads, I should be able to break 200hp. I will do more to it over time too maybe. Might get a shift kit for the AOD too, they arent too expensive... I don't know the condition of the AOD, but I'm guessing it's not too bad, they are decent trannys, and are extremely common, in every V8 car from 85 on or so...
OMG don't even bother. It will have barely any more horse power than the engine you've got now and will just guzzle gas like nothing. I have an '88 5.0L in my truck (the original) and it sucks. It's a Chevy engine mind you but I doubt the Ford version will be much better.
The only engines worth modding are the 5.7L from that era.