If you have the cash the 5 lug 4-wheel disc conversion is definitely the way to go. I didn't have much money when I converted my '79 Pace Car, so I just put on 87-93 Stang front brakes with aftermarket 5 lug rotors. Out back my friend drilled out my axles for 5 lug and put in new studs for me, but this is pretty tricky to do. You can also buy Ranger axles that will fit and are 5 lug. Sorry I can't remember the specifics on what year Ranger, but I know you need to buy two same-side axles (can't remember which side, of course). Basically, for bare minimum you could just buy new front rotors and new rear axles. I think it was in a previous discussion on the board, so do a search on old posts.
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Strike down the unroadworthy!
2000 GT Atl. Blue: '03 Cobra motor - 465rwhp/473rwtq, T-56 6-speed, full MM TA/PH & tubular K-member suspension, Saleen body, 17" Torq-Thrust II's, M/T ET Street radials, and lots more
'94 Rio Red Cobra: All the bolt-ons, 3.73s
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