I have the same engine in my 2002 Ranger, that's what I run. I did use Mobil 1 0w-30 this past winter since I make a lot of short trips. I just sent in the 0w sample for a UOA and have not gotten the report back yet. I put M1 5w-30 back in now. Truck uses almost zero oil.
I have been using Havoline 5W-30 synthetic in my 02 Explorer with good wear results (check the UOA section for my recent UOA). I think my engine would have done just as nice with the Mobil-1. How long are you thinking of keeping the Mobil-1 in there? The UOA for mine showed that 5,000 was about the ceiling, at least for the winter months...
Motorcraft FL-820S is a good choice for filter and at $2.97 at Wal-Mart a bargain to boot!
5000-6000kms, since it will just be used as sigh a grocery getter. It will see a trailer once a month.
The ford filters are great, I've been using them on the the 01 windstar and the old 99 with no problems. Well worth the 5$ cdn
I have the 4.0 in my 97 Ranger Supercab. It's had Chevron Supreme 5W-30 in it with 7,000 km changes for the last 4 years. Has 195,000 km now and uses about 3 mm on the dipstick between changes. Ford dealers also use this oil. I'm sure a synthetic would be fine.
I've got a 1993 Explorer with the 4.0 OHV. I have used many different oils and the one I have come across that works best is Valvoline Synpower 10W-30. It ran much quieter than with other oils and I had no consumption with it. On the other hand, I used Mobil 1 5W-30 and it is the complete opposite end of the spectrum. The motor was much noisier, and I lost about 1/2 quart in 1500 miles. Right now I am doing an Auto-RX flush so I am using conventional oil, but when I'm done, I'm going back to Valvoline Synpower.
I previously owned a 96 Explorer with the OHV 4.0 engine. It received 5,000 mile oil changes with 5W30 Motorcraft dino and filter for 175,000 miles when I traded. No problems or oil consumption. Oil did turn dark brown or black during the oil change invterval but never dropped on the dipstick.
The wife has a 2002 Exploder with the 4.0L SOHC V-6 and for the first 30,000 miles she used the Motorcraft 5W-30 at approximately 5,000 mile OCI. I did a UOA on the last interval and it came back very favorable. I have since switched to Schaeffer's 5W-30 Blend in the hopes of going to 7,500 or more mile OCI's now that the Exploder is out of warranty. Once you get past the warranty requirement of 5,000 mile OCI you should be able to run the Mobil 1 to 7,500 mile OCI. But it would be wise to do an UOA on the Mobil 1 at the 5,000 mile mark first to see whether the OCI can be extended based upon your driving conditions.
I sold my 93 Explorer with the 4.0 at about 205K, I was running Mobil 1 5-30 winters and 10-30 summers mostly, it would burn about a quart every 4 or 5 thousand miles. Oil changes were anywhere from about 8 to 12,000 miles. I kind of kept increasing them the older the car got, figuring what's the point as I would be soon riding a rust eaten wreck with a nice engine. But when I sold it the engine was not much different than when I bought it, except a bit more ticking from I think the rollers. Never had any engine related problems but did get noise for a couple of minutes during winter start ups. However, it always cranked immediately with just one turn of the key even at -15. Not the slightest bit of leakage from gaskets, in fact the engine outside was completely dry and rusty no sign that anyone had put oil in it ever.