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I have a T5 with an S10 tail-housing conversion in my 2.3T Ranger, Norm, and the shifter (a moderately-long-lever short-throw Hurst) is in EXACTLY the correct spot (my hand just falls right onto the knob). As for the speedo problem, there are several solutions (
LINK ), including the installation of an actual S10 mainshaft. My T5 was already installed when I bought the truck, so I don't know how the PO did it. The issue is that the hole for the speedo "plug" (trans end of the cable) is farther forward.
The mainshaft has a raised (larger-diameter) section, as shown in the link above, where the speedo "drive gear" fits ~ so the shaft either needs to be one from an S10, OR......the Ford shaft needs to be shimmed larger with some brass or steel shim stock. I SUSPECT that the PO did the latter since I've read of several other folks who've done it that way successfully ~ BUT.......DUNNO. The HARD part is gathering all the parts & pieces.
As for the torque capacities of the two different trannies (T5 vs M50D).......DUNNO! Regarding power levels, having 400-500hp "on tap" from a 2.3 in a daily driver is "edgy"/unreliable AND very expensive ~ not to mention lacking the fun of being able to squirt from signal to signal. That's more than 3hp/cid ~ which is WAY more power density than the 1st-gen NHRA Pro Stockers (Jenkins, Leal, Glidden, etc.).
Those kinda goals would be better fulfilled with a V-ate conversion, IMO. BUT......I think you'll be
PLENTY happy with a 300-ish hp 2.3 or 2.5 in a 3K-lb Ranger!
.. I.e., according to my "always accurate" <rolleyes> power-speed calculator, that kinda power-to-weight ratio has the potential of 12-flat 1/4 mile ETs, with good traction.....which is hauling ass ~ especially on the street.
Auto vs manual? Obviously, your ankle injury plays a large role in that decision, BUT.......I would opt for the automatic. TF member "Howard" has knee replacements and he spent a lot of time researching, purchasing parts, and installing a GM 2004R in place of his former T5, using an OMC 2.3-to-Chevy bellhousing adapter. The entire project WAS linked in
THIS thread, but - unfortunately - the link is now
dead (???)! The 2004Rs are smallish (Powerglide/TH350-size) 4-speed automatics with lockup that were used in the turbo Buicks (GNs, GNXs, etc.) and, when built properly, can withstand over 1000hp.
By comparison, however, a C4 conversion (
LINK ) is infinitely easier ~ since it uses all "formerly"-stock parts (bell, flexplate, trans, converter, starter, etc.). As for the lack of overdrive ~ just use a tall rear gear (3.25 - 3.70-ish) for better gas mileage and let a high-stall converter help to offset the poorer "take-off" ratio. <shrug>