Will a 3.5 motor replace a 4.6 in a P38?

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I think the heads are pretty much the same from 3.5 through to 4.6. One of the bolt holes on the O/S at the front is different.

I used the good old shim type head gaskets to try and gain a bit on compresion. Don't kow isf it's made any difference.
 
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