so I am sure this has been discussed to death, but I can't seem to readily find the info i seek with this sites efficient search engine now obviously I cant afford a crate motor, or I would just have someone else build me a bad a$$ car and fab up everything I need in the first place so....seems like you all like the roller motors when making the switch to a "modern" V8, is that the 5.0 HO's out of the mustangs generally (86-95 did I see)? or what other cars/trucks should I look for? is there a particular year that is ideal? do I need to change the tranny also or will the C4 work? I know...lots of questions someday I will learn as always thanks everyone!
T birds also got the 5.0 HO, a 1996/97GT40 headed explorer engine would be my choice. It's kinda hard to call those engines "modern", since they're still old pushrod technology. the c4 will work if you get a 50oz flexplate for it, you can get them off ebay for around $50.
Don't overlook the 94-97 trucks and vans either, these have the same basic long block as the Stangs used for those years, with just a hair less cam, which is a great street cam when used with a high rise aluminum intake and a Holley 570 Street Avenger carb. This same cam was also used in the Explorer 5.0. All these motors need is an hour's worth of port work on the exhaust sides of the heads plus a set of full roller 1.7 rockers to push the valve lift to .445/.473 (duration is 256/266 vs the HO cam's 266/266) This combo will melt the tires off the rearend with very little pedal effort, while still pulling down 20 mpg in a Mav.
I picked up a complete running 96 explorer for $800 and plan on swapping engine, trans and rear into my car and using all the computer stuff. I'm hoping it will work out well.