And if the engine feels sluggish, that may just be normal in this situation.
What kind of vehicles are used to driving? If anything 30 years old or less, then you are used to a whole lot more torque and horsepower and efficient running engines than anything that ever came in the bronco. If you have experienced older trucks (not muscle cars) then there may be other things at work here.
A stock 289 in a bronco probably had 150 hp.
Yes, I think they were listed as 200 and about 300 pound feet of torque, but that was measured in the old method using “gross“ numbers rather than the “net“ numbers adopted in 72 and used today. So a more modern 5.0 probably had 50 to 100 more horsepower than your bronco engine does.
And a very modern 5.0 of the new engine family probably has triple the power that the old engine had. All of it hauling around what is probably a 4000 to 4500 pound vehicle with poor aerodynamics and rolling resistance and you get sluggish.
And then there are the 35 inch tires with unknown gearing and you might get extremely sluggish.
You need to find out if any of the previous owners regeared the differentials for 35 inch tires.
Most likely not.
Some more details are still needed please.
You need to verify what engine is in there and what has been done to it.
Maybe not too easy if the previous owner you bought it from didn’t do the work and is only guessing. Which it sounds like they were about other things.
Then you need to verify the differential gearing. That’s a whole lot easier and can be done in the driveway with basic tools.
By basic though, I mean a floor jack and such.