First off let me take care of the gear vendor question. My brother has one in his 1997 F350 4 door longbed 4x4 with 38" tires 7.3 powerstroke he gets on average over 22 MPG it turns his trans into an eight speed. I had this Idea before to do before anything else.
http://www.gearvendors.com/ Stacy David put one in "Copperhead"
Yes the motor does run fine I just spent some time with my dad on rebuilding/cleaning the carb and adding an inline fuel filter. According to PO motor was rebuilt about 20k ago and the trans had new seals installed at the same time. I will be removing them soon and they both along with radiator will be for sale on here and CL. Dogpound if you are interested throw me a number for them both. I need some body panel money!!!