Ha, well went the easier route and am rebuilding the 4.0, and stroking it to 4.6. Head gaskets actually looked fine, and there were no steam cleaned pistons. Engine sludge wasn't too bad for 125k either. Didn't find where the intermittent leak was coming from, but glad to rebuild and stroke it now when I have the time. Here's a list of parts I'm either replacing or adding:

Used 4.6 crank/rods/pistons with new piston rings and rod bolts
New cam, main, and big end rod bearings
New OEM 4.6 camshaft and lifters
All new Gaskets (Felpro)
New oil pump gears
Bosch gen 2 pink top reconditioned fuel injectors
Deleted cats
New water pump

Machine shop work:

Clean and check block and install cam bearings
Hone cylinders
Valve job with new seals
Polish crank
Check rods (still waiting to see if they need regrinding)
Radiator cleaned (rodded if needed)

And yes, I screwed up and pulled the torque converter as well. Was tired and wondering why the flex plate had 10 bolts (doh!). After starting to lift it out, I realized I unbolted the flywheel ring gear instead. Oh well, I have a new oil pump input shaft seal to install before trying to get that converter back in and seated correctly.

 

Yeah I regret I did not have the $ for 4.6 stuff when my heads were off

 

It ain't as cheap as I first thought, but credit will carry the rest until my tax check tuition refund.

 

im going the same route except im reusing my 4.0 pistons and using 4.6 injectors. heard its a higher compression that way. I have volvo injectors I need to get rid of.

 

I went back and forth about using 4.0 pistons, but ultimately wanted to be able to use 87 octane safely if I had to. Report back on how it runs. I reluctantly decided not to at the last minute.

 

I always run premium anyways on my Harleys and wife's 2010 BMW X3. I get it fairly cheap on base.

 

Well, this is finally wrapping up about 6 weeks and $3000 later. It's at my brother in law's place which is about 10 miles away. Add to that me being in medical school, and it's been a long project. After my final exam tomorrow, I'm hooking everything back up and firing it up on Saturday.

 

on your planned upgrades.. cam- you could probably come out better with a crower/kent/etc. more performance options and you can package with lifters.
injectors- ebay seller swapgames has the best deal I could find on recons

 

Went back and forth on cam, but settled on stock 4.6. It's already in and assembled, so it's staying. I got reconditioned Bosch pink top injectors, and they all fit well.

 

oh...guess I misread. thought you were still planning on those. my bad carry on