No, you'd have to replace a LOT. In fact you have to be careful even if you
use a later year 3.8.
They are a good engine once you get past the head gasket.

Pretty sure the experienced bidders in there knew about the 3.8 problem.  A
lesson for the rest.. Do research before you go to an auction.  Google is a
blessing.

I had a '95 in which I swapped the engine. Without replacing and
hacking a while lot of stuff, you can stick up to a 98 3.8L in there.
That 98 actually gives you 10 more HP. In 99 Ford changed some things,
including a fuel return line which would mean you'd have to add that
in. Doable but a lot of work and costly unless you can do it yourself.

Due to the idler pulley desintegrating 6 months ago, I had another
blown head gasket. This time I had the heads milled, a valve job done
and new lifters installed. Costing me a little less, but resulting in
an engine that will probably last another 100K.

Facing a similar issue, I'd go for rebuilding rather than replacing it
with another used engine. Unless something major is wrong with it or
it has much miles.

Yes, you can stick a V8 in there. but you're gonna need a donor V8 car
as you'll have to change the drive train and everything. Including the
computer. Upgrading the brakes to cope with the added V8 power would
also not be a bad idea. On the whole, you'd be better/cheaper off
buying a V8 Mustang.

-----------------------------------------------------------------------