You mention 4.6 heads put on it, implying is a 4.0 engine. The heads are the same.
As for a lift and on air, why bother if you're 90% on road? Will affect handling more than any bonus you'll get off-road
 
Something to do with some difference in the 4.6 heads, an oil collector pipe or something that was improved on the 4.6 compared to the 4.0. I can’t remember what the guy said the benefit was.

The lift is to accommodate the wheels. I’m sure some will judge me for it, but I just love the look of them with the big wheels. I never really liked the styling on Discos, but with the wheels it looks like a different car.

Also, I want a sense of occasion when I drive it. I’m trying to have fun without going fast, all my previous cars performance was been the priority. But with the disco I’m hoping having the V8 sound track, crazy looks, unusually high (for me anyway) driving position will entertain me for a couple of years.

I’m going to try some off-roading, who knows maybe I’ll get the bug for it!?!?. But I’ll also need to drive it to the station and back a couple times a week. Well, when the travel bans are lifted I will anyway.
 
the heads are still the same, unless its been ported/polished/gas-flowed.
as for the look, I guess thats personal preference :)
 
I would keep standard suspension for now, ACE better than no ACE, air on back better than coils.

As to lifts IF you want one consider a body lift.

The things which hit are tow bars and diffs.
 

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