I had a 2001 as well, and a 93 Lightning before that. Both were very fun trucks, with very different driving feel. I had the same thought, 380hp and today they do that NA with less cubes, amazing progress.
I have a 2.7L Ecoboost in a 4wd supercab, I imagine a 3.5 Eco on a shortbed regular cab, I Raptor tune, would be an absolute animal and very light with the aluminum body. My truck only co es in around 4700-4800. I actually preferred my 93 lightning, I did a bolt on powerdyne but still wasn’t as fast as my 01, but it only weighed 4100 and was more fun to drive, nice to get back to a truck that doesn’t weigh 5000lbs