Yeah there went my paint money. I got a buddy that has a 302 out of a Police Interceptor. Don't know if there is any difference between that and a normal 302. I would like to go with a 351 but it all depends if I can find one. I might stick with the 302 since I already have the Edelbrock intake and I might get a hot cam and put in it. You got a extra 351 laying around? And trying to stay under a budget.
You know you really like that purple anyhow!
I had an extra 302 I gave away, but it would have needed rebuilding anyhow. It would be quicker to get a crate motor or a known good running motor. Call Stephen at Emerald Coast Auto Salvage in PC and see if he has a good running late model 5.0. I only gave $500 for a 98 5.0 from an Explorer with 126,000 miles on it. Easy swap really, but for your manual tranny you'd need a bracket to make the clutch equalizer work, and you'd most likely have to switch to an electric fuel pump. Your front dress and intake would swap over though.
EDIT: Check out this option from a member here...
http://classicbroncos.com/forums/showthread.php?t=272222
That would accomplish motor, EFI, and serpentine!