Technical ford c3 and c4 interchange?

So, my roadster has a 2.3 ford ranger engine with a c3 behind it, which just today decided the season is over, slipping in third, will engage reverse when cold but not hot. Hot being 154 degrees, measured with an infra red thermometer at the pan.
Anyway, my question is...does a c4 interchange with a c3? I've been looking at putting a stick in the car, gotta find a 40 ford clutch pedal, and the related parts to do so.
However, also been bitten by the drag racing bug, ford 2.3's can make big po wer, a c4 would be good to race. I hate fords because of the design changes, this only fits that engine or those years thing, gm stuff just interchanges totally. So not being a ford guy, looking for advice.
Car is a 27 ford roadster pickup, 1700 lbs, got any info or ideas?

 

C4 bellhousings for 2.3 tough to find. Go T5, preferably out of turbocoupe as slightly larger clutch