The only thing I don't like about this model is the air cleaner box over the top of the back side of the engine. It's a real PITA to change the air filter. Otherwise, one of the best Trucks Ford ever built.
I bought this exact truck new in 86, but mine had the 351 HO in it. It had the Ford/Holly carb on it and was a very hard warm start, but it ran like a scalded dog! I think this one is a 302. Not sure.
I had a new 1984 F150 with the 351 HO and the Holly carb. C6 trans, 4x4. Came with a 9 inch rear axle. Was able to get limited slip in the front and back. Great truck. Transfer case did let go on me. However, that engine and trans combination allowed an NP 205 swap. Worked great.
Definitely a 302. I had a 1990 F-150 that had this exact same intake cover on it and it was a 302 fuel injected. Strangely enough my 302 EFI would outrun my buddies 1985 Bronco that had a 351 H.O all day every day but he did have slightly larger tires on his Bronco which I'm sure slowed it down significantly.