Engine Purchase Question

So I just purchased my first 5.0 engine, wondering if I did alright? Engine is a new Ford 5.0 from an 1996 explorer that had been sitting at the distributor for a few years. Comes complete with GT-40 heads, and GT-40 intake with injectors and ingection harness. Add to that a set of y303 GT-40 aluminum heads complete and e303 cam for a grand total of $2650 delivered. Of course it's up to me to install the heads and cam. The injection is coming off for the time being and will be going carbed. BTW, can I use the timing cover off my tired 289 in place of this one? I was told the engine alone originally sold for that amount. Thanks for the input.
 
Yeah, you can use the timing cover, but you have to use the old water pump to match.

You could probably get $500-600 for a set of new "factory take-off" GT40 heads and that would reduce the engine cost alot. The Explorer intake, equal to a '93 Cobra as you know, will fetch about $200-350 if you want to stay carb. $2650 doesnt sound bad anyway, especially considering you got two sets of heads. I have over $3800 in mine, alot more now that I've converted to carb for the '68.
 
Don't be quick to toss the Explorer cam either, that's a great street cam, not as small as you'd think. It's specs are just a tad less in duration than the GT/HO cam, the lift can be increased to equal to the intake side and a little more than the GT/HO on the exhaust side with 1.7 rockers. I've run this cam on a pieced together 5.0 with ported E7's, Tri-Y headers, a Ford A321 intake ( same as the old 60's Cobra high rise) 1.7 Cobra roller rockers, and a Holley 600 carb in my 89 Ranger. Backed with a 4 speed Toploader, it was a pure pleasure to drive, and a blast with the 4 speed. It made power from idle to 6 grand, maybe would have been more , but I didn't upgrade the valve springs to let it rev higher. It's got very little overlap and is a great cam to run in a low compression motor, it's small overlap, makes it seem like the compression is about a point higher in performance. Here's the specs : duration--- 256/266 degrees ( advertised- int/exh) lift with 1.7 rockers is .445/.473 ( int/exh) This cam is called the F4TE roller and was also put into all pickups and vans from 94-97 with the 5.0's. It's also the cam for the roller 351's.
 
Arent those heads GT40P heads? Not gt40s? They go pretty cheap...usually under $300 for a pair...with low low mileage. The explorer intake is also a good piece, but it would sell for about $200 or so. They are a dime a dozen on corral.

I dont know if you can use your 289 TC though.
 
First, thanks for the input. I'll look into going to 1.7 ratio rockers. The heads are true GT-40 heads, not the 40p. The guy had both in stock, I opted for the GT-40s since I've heard there are problems fitting the 'P' heads with headers in a 1968. If I decide to part with any of the stuff I'll be sure to post.