347 and 500hp
Well I know it can be done (people here doing it). The question in a ranger is can you get it to the ground. 500 out of a 347 is not that hard giving up street manners, trying to stay streetable will be the hard part if you go n/a. Throw a decent size supercharger on a 347 and you can get both pretty easy, but will not be especially cheap.
Why cant life ever be simple, and car parts be cheap???