Will, back in the day (2001ish) I did a bunch of PI head swaps on 95 and up 4.6 Birds. The PI swap really wakes up the early shortblocks as they bump the compression up to the 10:1 range. The PI cams also work very well. Adding a 80mm Maf and a good dual exhaust system plus a custom reflash to the PCM, and you've got a fun and powerful DD. Add to this a good torque convertor, simple J-mod to the trans, and a set of 3.73 gears, and these cars run in the 13's (on drag radials) all day.If your engine is still in good shape, this would be a good bang for the buck.
Mike.....