Yes, in that configuration (with the studs oriented downward) that is considered an over-the-knuckle, or a tie-rod over, or just "TRO" conversion.
And while you do ream from the top to make a hole the right size for the new tapered studs coming in from the top, there are still some times when using the tapered inserts/sleeves is appropriate, even with the reaming.
That's what some inserts are for anyway. To fill in the old taper so that the new taper from the top has more material to bite into and there is no part of the rod end stud that is not touching metal.
Don't know if it's better one way or the other in your case, but I'm sure someone will know. Either way, it's a good system and should work well for you unless you've got some unusual setup.
What year is your Bronco? What other mods have been done to it? Anything that might get in the way of a heavy-duty TRO setup? For example, dual-shock lower mounts welded to the c-bushing caps?
Paul