I've always been curious about this, but have never really gotten a straight answer. I had a an 88 LX 5.0 that was a barebones car. The only option it had was an automatic transmission. Gears were 3.08. It ran 0-60 in 6.1-2 seconds.
Now, I also had a 1993 LX 5.0 that was loaded, a/c power everything and 2.73 gears. Auto as well. It could do no better than 7.2 0-60! So, I swapped out the rears for 3.27s and it still only managed about 6.7.
Could the extra options have accounted for the difference alone? It seemed to me that the character of the engine/drive train was completely different. Had I put 3.27s into the 88' it would have probably cracked 6 seconds with relative ease.
I've asked Ford people what differed in engine compartment to account for what I found, but they said there was basically no difference.
-Rich