Keep the 4.6L. If you can build your own 351, then you can tackle you own head swap.
Get a set of PI heads and intake. Port the heads and send the cams away for regrinds (about $300 from Crane I think.) Then you can ad a bigger MAF, LT headers, and a dyno tune, and you'll be in running low 13's, maybe high 12's on street tires. Thats not too bad for a N/A 4.6 2V with stock suspension.
Then, if you decide to SC or Turbo on top of that, you will have one hell of a nasty combo.
I don't think its worth all the trouble that a 351 swap would bring you. Stick with the 4.6L.
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'97 T-bird LX 4.6L 2V, auto
SVO heads/intake, Vortech T-trim, front mounted intercooler, blower cams, Cobra crank, Manley H-beam rods, JE pistons, Aeromotive fuel system w/ 42# injectors, and much more
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