Actually the 3-speed isn't that bad. The top loader is something like 2.7? in the wide ratio version and the close ratio is in the 2.3 range. The later model mustang T5 (bad choice for a Bronco) is only a 2.95 1st gear.
So for a road going 3-speed the 2.99 is pretty respectable. And the spacing is about as wide as you would really care for anyway.
The I6 3.4 1st gear is a crutch like the standard 4.11 gears. To try and get every possible thing out of an engine that is too small.
Now when dealing with an automatic things get fuzzy. The torque convertor multiplies torque. In extreme cases (full throttle, not moving) it is pretty much double. So the 2.46 can twist off the line more like a 5:1. But not always a double in torque, as speed increases (transmission input shaft speed) the multiplication drops off. And part throttle is part multiplication as well. Things get less predictable when you add in power loss, slip, heat generated and dissipated. And engine braking you have the convertor slipping backwards (transmission input shaft spinning faster than the engine) and the torque multiplication only works one way. So you really don't have engine braking of a 2.46 ratio, and again not a fixed amount as speed is a factor along with slip.
There is not much that can be done without adding more gears, and that is a different transmission. The 5-speeds (AX-15, NV3550, M5R2) have a lower 1st gear and closer spacing between the gears. They also add an overdrive on top of the 1:1 top gear of the 3 and 4 speeds. But you really need to plan the axle gearing correctly to use that overdrive gear. In which case you are lowering axle gears again to get a usable overdrive gear. And if the engine is still a dog, all the extra gears still won't do anything for you.
I was looking back and saw
Thanks for the input! I did forget that really important part, the transmision is a manual 3 speed. I like the speed she cruisies at but hate that I have to get the rpm's way up to get her off the line. Most of my driving will be around town between 25-55 MPH with the occasional highway driving.
A retarded cam shifts the powerband higher in the RPM band. The old trick to make an engine pull stronger at lower RPM is to advance the cam timing. This is where I was heavily suggesting to just put a good straight timing set in. With a worn timing chain you will be way retarded (higher RPM power). You don't even have to advance the timing, just get back to normal timing will advance the cam a lot and get you a lot more low end power.
How to check for timing chain wear. The quick way is to remove the distributor cap so you can watch the pointer. Now manually turn the crank pulley. Go back a forth a few times. Ideally there is no play, everything turns in perfect time. Reality is there will be a little play in the chain and a little backlash in the distributor gear. But little, not a quarter turn, that is massive. Another way is to remove the fuel pump so you can check the timing chain through the fuel pump access hole. You need to rotate the crank pulley a little counterclockwise so the slack will be on the fuel pump side. Feel how floppy it is in there.
