Go ahead, and do it!
If its a 2 liter or 2.3 or 2.5 Ranger, you'll not get any improvement unless you use the O2 sensor and about 50 bucks worth of main and secondary jets, emulsion tubes and idle correctors.
The 32/36 or HW 5200 is an ideal upgrade because you get extra wide open throttle performance with theoretically better part throttle fuel economy. But the 2300 is technically a far better carb to tune if you know the basic tricks.
Remember, according to Ford, Dearborn changed from the HW 5200 (or was it the Carter Weber 6500) in 1984 to the old hat Carter 1-bbl because it was too hard to clean the 2-bbl car in the emission tests. Using the fuel control valve, the 1-bbl carb can be tuned to run very lean. Everytime you run a 2-bbl Weber type carb, the secondary barrrel can get energised as a giant (rich) squirter during the part throttle emission cycle. This dumps raw fuel into the intake. In addition, the primary throttles basic emulsion tube, the other power valve circuit, and thes are quite tricky to calibrate.
Some background. David Vizard said it was easier to meet emissions with a non staged carb like a 2-bbl 2300 series Holley 350 than the stock 32/36 or 5200 H~W. It was very easy to tune on a Pinto 2000 engine, and that the best thing to do with any 1-bbl carb is replace it with a 2-bbl Holley Weber. If you've got a Holley Weber 5200, then dump it for a Holley 2300 or Weber DGAS 38. Simultaneous open carbs are easier to tune. Staged carbs require very good understanding of the idel and progression circuits.
The 7448 350cfm Holley just needs the power valve channel restrictions taken down to 16 to 19 thou form the 53 or 62 they are stock from the factory, and a low number power valve like a 2.0, so it only gets rich under wide open throttle conditions. Jets of 56 or less will give you more power than a 32/36 or 5200, better emissions, and your only hassle is that it'll never pass the state visual inpsection, even if it passes the emissions HC and CO tests. That's becasue the 350 and 500 cfm carbs were never fitted with the 4180 style sealed breather and return line for the emissions guys.