Another important note about that engine. Check the heads very well for cracks, the 2.9 is very prone to also cracking heads.
At least you have the 2.9, I have an 84 with the German made 2.8 and hate to work on it because they decided to use far too small bolts everywhere. I have never been able to work on a 2.8 without breaking off bolts.
What bugout said - My father-n-law had one a 87/88 ??? Ranger. Was a great little truck
AFTER he replaced the heads with with a newer pair.