I have 2.8 in the wifes Pinto.  Would have rather had the 2.3 but this was original to the car so we kept it original.  We worked it as much as we could without going overboard.  Pretty much stock but bored .040 over, headers and I ported the heads.  Not allot of power. 103 HP at the wheels with an automatic.  Big improvement over the stock 75 at the wheels.  (we are talking HP at the wheels through an automatic not the Ford rating at the crank) The motor can be difficult. We have to make adjustemnts to the lifters every so often, and someone who designed it put it in backwards and upside down.  The distributor is against the firewall and the thermostat is under the car.  The oil filter sits right on top of the cross member, so oil changes are fun. I deffinitely feel the 2.3 an easier motor to work on and has more stuff available.  One of the members had issues with the heads cracking, I haven't had that problem.  But somehting more to think about.  It was rated as one of the ten worst motors ever built, but was a runner up to go into the Delorean when it first was being designed.  If you have one I suggest going to the Ford Ranger site, they have allot of info on how to squeeze some power out of this motor.  But I would never take on over 4500 RPM.  They weren't built to be beasts and they have poor cooling on one side of the heads which can cause issues if you let the heat go too high.  I would suggest an electric fan if you sit in traffic on hot days. Here is the link. http://www.therangerstation.com/tech_library/2_8L_Performance.html 

Thanks for the tips.  I saw one for sale that supposedly has all the other options I was looking for at a price that was reasonable.  I think I'm going to pass though as the 2.3 seems like it's a much better engine.  I prefer the 4 cylinder anyway.  I guess there's a reason you don't see too many of the 2.8L pintos.  The wagon I'm restoring that was my grandfather's has the 2.3L with auto.  There's definitely a much larger aftermarket for the 2.3 though.  I'm actually thinking of switching in a newer 2.3L if it would be able to be done.