going to look at at used 4.6 from craigslist

Wow only 196k and its week, dude my npi has over 220k stock with bolt ons only and 4.10s and still runs 9 flat in the 1/8, but smokes like a freight train on taje off at the stop light due to the junk valve stem seals, dude if it aint smokin, or knocking I wouldn't worrie bout it, unless the engine has cheap price tag
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You do realize that the 2000 GT has a Windsor motor and your 96 has a Romeo? Factor in some additional $$ for the Romeo/Windsor swap.

If it were me, I would look for a 2001+ Romeo.

quoting wmburns, well as long as the 2000 is complete from oil pan to intake, and pulleys to flywheel you wont hava any problems for the swap

Do you know the compression on your current motor?

If you aren't going to run boost or nitrous through it, just let it ride unless the compression is suffering.

I'm about to START spraying my GT with 141,xxx on the clock... haha.

IMO, if you want meaningful advice some understanding of your goals and budget is needed.

Are you trying to do a "save $$" re-build? Are you trying to do as much of the work yourself or are does engine work not your cup of tea?

Are you trying to do a simple as possible swap or would you welcome the challenge to do something "harder"?

Do you have the in's with a machine shop? Do you trust their work?

How would you feel if something happened and the motor had to be pulled and re-done?

Are you looking for a PI motor or Non-PI motor? Low mileage or not really as important?

IMO, all of these questions factor into a decision.

For example. Rebuild your own motor. If you piece out the work and put it together yourself, there is no warranty on the motor itself. What if something went wrong? Could you deal with it? In terms of saving $$, this is the cheapest. Especially if you have confidence in what is wrong with the original motor.

If on the other hand, you want a plug and play option with a warranty, an option is to have your motor re-manufactured. Expect to pay 2000-2500. For that you will get a zero mile motor with a warranty.

Then there is the salvage yard route. This opens up a number of possibilities from an exact plug/play on up.

I can tell you that certain year combinations are easier/cheaper to find in the salvage chain than others. The costs can vary wildly. As the net is widened on what donor motor is acceptable, this brings a new set of considerations.

For example, the 2000 Windsor will need new flywheel/pressure plate (for starters). There are other differences that each have their own set of possible “head aches”. A later model Romeo will have a slightly different set of considerations.

When the motor went out in my 2000 GT, I could not find an affordable low mileage Windsor. The available Windsors were going for 1200+ with 150K miles. Too expensive and too many miles for me.

I ended up going with a 38K 2004 Romeo from a Crown Vic for $830. But, much of the money saved on the motor ended up going back into supporting parts (flywheel, clutch, PVC lines, gaskets, and such).

Lesson learned. I didn’t save as much money as planned. In the end, I still got a low mileage motor for a fair price.

I still stand by my previous recommendation. If the costs of the motor are equal, a PI Romeo is going to cheaper over a PI Windsor for the application being discussed (swap into a 1996).

Further, I think it will be easier to find low mileage Romeo blocks for the simple reason there are so many more of them out there.

Now having said that, you could always come across a “deal” that changes the equation.

One recommendation. Check the prices from car-part.com so that you know your local market. This will help you to determine if it really is a good buy.

Suggest that you make a list of the things that are important to you (money, mileage, warranty, used/new, risk, level of effort, variance from stock or anything else you can think of). Rank the items in order of importance. Be honest. For example, you can not rate money as #1 and then go look at a forged racing piece.

I hope this helps.