Re: Replacement engine '94 F-150?
Being a '94, your only option is to keep the smog equipment intact if you plan on driving it on a regular basis on the street. Since this is the case, you cannot go with the 429 option...even though the 429 and the 460 are the same block.
Given the size of the tires you plan to run and the lift, I personally would go with the 460. There are tons of late model(up to '96) F250 and 350's out there with the EFI 460.....making it the most economical and practical swap. Find yourself a donor vehicle from a junkyard in your area and you'll have everything you need for the swap including engine, big-block tranny, motor mounts, wiring harness, computer, injectors, etc. making it an easy task. Bare in mind going with something other than what's already in your vehicle will require a substantially larger investment.
If you don't want to go with the big block option, just rebuild your 302. If you really want more power, get yourself some aftermarket heads, cam, upper and lower intake, and any other go-fast goodies you can afford. It really depends on how much money you want to spend and what sort of numbers you want to make.
Also, since you plan on running larger tires, seriously consider a ring and pinion swap in the front and rear. The larger tires increase the overall gear ratio making it very sluggish off the line.
Another MUST is a brake upgrade. All too often I see guys running huge tires and lift without upgrading to larger brakes. It takes a lot more braking force to stop that extra rotating mass and you'll be sorry if you ever need to stop in a hurry.
Hope this helps a bit.
1992 Ford Bronco
E4OD- B&M Stage 2 shift kit
Full 3" stainless Bassani Exhaust
32" BFG's/stock suspension
"No replacement for displacement."
"Our lugnuts require more torque than most Honda's produce!"