Simply put, forget it. If you did want to do this, budget for gearbox, drive-by-wire (or alternatively a full Motec system + install and tuning hours), and then there's the logistics of fitting the bugger!
$30,000+ would be my conservative estimate for a complete conversion.
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The older Falcons have plenty of room to fit the 5.4L. I've seen 460 big blocks in XA Falcons with plenty of room to spare and the 5.4 is not all that much wider.
For engine control the ECU and harness from any 96+ Mustang Cobra should be fairly straightforward to adapt.
Source the motor from a Lincoln Navigator (Suburban Imports should be able to help with this if you're in NSW) and get a Boss intake (maybe heads too) from Ford Aust. Manual trans to fit should be easy to acquire locally.
Have you seen the size of the engine bays of an earlier model falcon???
For sure a written off XR8 would be the way to go, but also as suggested getting one from the states is also a good idea, it probably wont happen for a few years, so i think by then it shoudl be a little cheaper, but it would be an interesting thing to do.
My EB is 54mm wider across the shock towers than my XE so I think you'll have a hard time making it fit. Still, I wouldn't say don't do it.....I'd say bloody well make it fit!
The 4.6 DOHC engine is wider than a 460 so the 5.4 is wider again with its taller deck height.
You could use '99 Cobra EECV(with COP ignition) with a Tweecer to dial it in. Unless of course we have nutted out the PTEC ECU from the current cars..hopefully by then we can disable anti-theft and CAN systems so it can run in the older car without having to transplant the entire BA harness/modules.
Unlike the EL's where i actaully knew a little about there smart lock, I've got no idea about what the BA is like, at the moment, it might be possible to run a us engine, either that or get a damaged XR8 and transfur the whole lot over to the other car and do it that way.
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