THis was discussed earlier ... if you are looking for a new kit then check out 5.0 resto. Keep in mind they give you 5 lug rotors and not the SN95 spindles so wheel fitment may be a problem depending on your choice. Can always do the junkyard SN95 front and ranger/aerostar rear stuff as many have already done. Good luck.
I am currently doing the 5-lug conversion with the junk yard method. I hardest part is getting the rims at this point... I didnt realize bullit rims were so expensive.
i say yes, but it all depends on the brake upgrades you wanna perform. If you are going with bigger calipers then you might have to go with 17's. I am going with 17's when I can afford it. If you are going to use stock sn95 calipers then I think you are fine with 16's
the easiest and almost cheapest is the 50 resto kit for 400. you get new parts and everything. The absolute cheapest way to go is the junk yard route. you can get the kit stuff for less but itll be used.
This way will not enable you a brake upgrade, and you wont be able to run certain wheels.