I have a couple of questions, first, I saw on here I think, information on using a cylinder head mounted distributor. Sticking it on the end of the intake cam would be great as it would get it away from under the intake manifold. I can't find anything on it (where is the search function?).
Second, I think I have arrived at a viable solution for the oil drain issues on these, here is a picture looking up at the bottom, rear of the 2.4L head on the 2.5L block (ignore the obvious leak evidence, that will be fixed), you can see the 3 center rear oil drains are at the back of the block.
I surmised that if I can clean up that area (having a Bridgeport would be fantastic!) I can secure a piece of square steel tube to the block using some small bolts and high temperature/strength epoxy after capping the ends and adding a drain from it. Once it is mounted, use a suitable drill to open the top where the 3 existing drain holes are. Doing it this way will (hopefully) eliminate the need for the hose nest for drains. I plan on using one of the existing front side oil drains as a place for my PCV valve to draw from which should help oil return under normal driving. I have a plan for oil supply using as much of the 2.5L oil passages as possible to come up the left front bolt hole and extending the original cross passage to that hole with it enlarged to match the existing left rear hole. The idea is to try and avoid a cluster of external lines (leak sources) so in the event of needing to remove the head it can be done reasonably easily.
The final item is the timing belt, the normal 2.4L belt has a head mounted idler that increases the wrap on the intake side and the water pump. Since the 2.5L water pump is driven by the alternator belt, that isn't an issue, what is an issue is where the belt will sit without that routing.
Using a late Ford Ranger 2.3/2.5L belt will allow the belt to be pulled back then run to the intermediate shaft sprocket, and yes, the right motor mount will need to be modified to allow the belt to pass through behind it. The other issue is spacing away from the block and heads. I need to find (if there is one) a round tooth crank sprocket with the teeth going all the way out like my present square tooth one on my 1988 T2 engine.