x2 on 3.5" suspension lift and 1" body lift. Trim metal as needed. I run ARBs front and rear and love them.

5.13 gears?!!!!

The nv3550 has overdrive. They're not terribly strong. I'd go with a ZF5 if you want overdrive or a NP435 if its not needed. Assuming, of course, that you're running a manual trans. Also, the 4.88 is a stronger gear set, so if you can avoid lower geara than that its good.

3rd or 4th going with 3.5" Suspension, but mine has 2" BL and I'm happy with it.

ZF5 FTW!

Lockers - I'm not a big ARB fan. Just seen too many with troubles, but I do like the idea of a selectable locker. I believe there are some electric lockers out there you might research, and maybe even a cable operated one.
I have a Lock-right in the front of mine and it's been pretty good. I did blow one up a few years ago. Aussie's are supposed to be stronger, but they were not being made when I needed to replace my Lock-Right. Rear is where it is really nice to have a selectable locker. But it's really not necessary for the front since these rigs aren't full-time 4WD. Once you unlock the hubs, it won't make any difference what locker is in there. So if you have the coin, I'd go with a full locker like Detroit. The Aussie and LR are "Lunchbox" lockers meaning they don't replace the carrier, just the spider gears. That means they are generally weaker.

Roll cage is a great idea and there are some cool ones out there...but you might consider having one custom made for nearly the same money. There is shops we can recommend.

Here's to hoping EFI was properly installed!

Get it running and stopping well, then look at safety (cage) and then start on the mods, like lift and tires. Then lastly lockers, etc. Consider rocker panel protection along the way.

EFI - Explorer 302 roller block and GT40 heads (351 would be more fun :))

35” tires on 15” rims (37’s on 17” rims would be nice but might be overkill for you)
3.5 suspension with good shocks - Bilstien or Fox
1" integrated body lift

ARB Lockers front and rear
Compressor and 2.5 gallon airtank
Keep the Dana 20 but get the HD output shaft
at least a 6 point cage - 8 point is better :)
4.88 Gears

Manual transmission-
ZF5 will be cheaper and stronger than the NV3500 however I hear the NV4500 is a robust 5 speed but will still be more to install behind a small block ford as you need two adapter kits instead of one

Automatic-
470rw Ford Transmission with Overdrive from a 1999+ ford explorer- will need a stand alone computer controller

Either choice above requires an adapter kit (except the NV4500 which requires two)

Bumpers - your choice there are some nice ones out there.

Just some suggestions…

I think the strength of the ZF5 is generally regarded as being on par with the NV4500. The ZF also doesn't take weird (and expensive) fluid. Gary can make the stock Explorer ECU talk to the 470rw, eliminating the need for the Baumann controller.

All great info to consider...we are starting to wrap things up over here and will start another round of research in the next week or so :D

Thanks so much to all for the input!!!