Hey Joe, Thats the $24 question. On one hand, you have a nice intact pinto and can "restore" it with the 2.0. And on the other hand is something you have allways wanted. For more food for thought, The 302 will require a better rear end ( at some point) bigger tires ( for traction) and a bunch of miscellaneous stuff you will buy ( because, you might as well as long as its apart). The 2.0, you can do a mild build on the motor ( cam, head work, pulleys, header etc) and bolt it right back in and go with no "visible" signs of modifications ( or very little).
just my 2c

My Vote is for the 2.0 also.
 V8 performance while still getting 25 MPG.
 From pintony

Well I decided to keep the 2.0 however I pulled the head off and found a bad score in the #3 cylinder.
that in itself is not so bad except I also found the engine has been bored .30 over and I cant find a ring kit for it anywhere local (SW PA). most local parts shops list a re-ring kit but when they check availability it is discontinued.
So I don't think I can bore the block any more and even if i could I cant find rings let alone pistons.
not sure where to go from here.

Hey there Jg.
Yes i faced the same dilemma when I rebuilt the engine in my pinto 10 years ago but cores were fairly plentiful. The 2.0 I had ran real strong for an automatic 4 banger .However everytime i needed or wanted to get more power from a naturally aspirated combo i was faced with real expensive parts or non existant parts. The last cam upgrade which cost me over $500 for the cam , followers and springs , started to wear real fast. I used all the break in lube and and break in oil additives that crower recommended and still it turned to crap.
 Also when the 2.0's are subject to high horsepower or high rpms they bend cranks. Mine was bent and it wiped out the center main bearing. (all the other bearings had another 50,000 or more left on them. also the vibration was intense.)
 Anyways I cant recommend the v8 conversion because if you want a clean install , its just a pain and costs lots more than I thought.
Hindsight being what it is, I should've gone with a 2.3 ,and maybe a turbo ,but I'm just not fond of turbos. Yes they make lots of power but they also make tons of heat and that worries me. Others may have other info, but Ive heard of cracked manifolds and cooked oil and wasted turbo bearings. Plus the massive complexity of wiring and intercooler piping if you went that route.
 I used to own a 73 wagon and I was planning to plug a late 90's ranger 2.3 in there with the fuel injection etc. with massive reliability but that never happend. My 97 Ford Ranger would have  plenty of power for a lightweight car, but in the truck its pretty much a dog when you have the ac on or when you are hauling anything over 500 lbs. If you used a ranger 2.3 you'd have to get a thunderbird turbo coupe bell, flywheel , and T5 trans because you DONT want the ranger Mazda 5 speed. Its a bulky clunky trans
 You know that I was wondering what kind of 4 Cly engine that the 2003 and up ranger has . I heard that its got 130 horses
and might be patterned after the ztec in the focus. But I'm not sure on that.
 Anyways hope i gave you some info that might help.
have fun!
Robert

Hey 71hotrodpinto,
I was reading about your cam problems in your 2.0....
 Did you get a cam with a mall base circle??
 You have to run the longer valves if you have the small base circle cam.
OR run lash caps.
 From Pintony

I owned a 72 Pinto hatchback with a 1984 Mustang SVO 2.3 turbo, 5-speed, 8" rear end. I loved the car and it was wicked fast. I made the mistake of looking at a 71 with a built 289 small block, C4, 9" rear and I just had to have it. There is no sound like a Ford small block winding up. I sold the 72 and bought the 71 and I've never been happier. Look under "Your Pintos- Joe's 1971 Pinto " to see the car. The 71 is also very fast ( in a straight line of cource) !!! Regards, Joe

Hello Joe,
 Keep checking ebay!
I see 2.0 parts on there all the time.
Good deals too!!!!
From Pintony

Hey Joe,
 Yes the Cortina is the same 2.0 only the cortina has a rear sump oil pan and pick-up.
From Pintony

hello Joe,
 The cortina 2.0 was the same as Pinto.
 BUT there was a OHC 1600. in england
Looks just like the 2.0 but has less bore-stroke???
The 2.0 was installed in english sierra until the mid 90's
From Pintony,
 There is a stock set of rings on ebay right now.
 I'll try to keep you posted when I see items pop-up on ebay that you may need.
 Hard to believe that these parts are getting hard to find.
 I guess with the gas prices there will be a run on these parts for people tring to put their small enginae back on the road???
 I'll look around and see what I have.
From Pintony

A turbo swap is not that hard at all. Minimal mod.s to the car itself. I would think that it is about the same difficulty as a v8. I had all the MII v8 parts at one time and realized that I would have to modify some of them anyway. I still want to do a v8 at some point too, but the turbo is nice (not a direct bolt in, see my posts. I got mine in under the stock hood). I have not had any heat (MII v8 radiator), or turbo issues. My T/C donor car had 170K on it, I did very little to the engine before the swap (t.belt, tune-up, and water + oil pumps), and it runs great.

Bill