I am not so sure that is the way I want to go but then again maybe... I first had the notion that I would just stay with the 200 in my Fairmont with moderate upgrades. It just keeps nagging at me that why go back to carbs when injection is so much better. It took me a while to be won over with injection but after owning a number of late 80's Mustang GT's and a couple of SVO's I am completely on board with injection. I don't really want just another V8 Fairmont and I like the challenge of something a little different. That is when I began thinking "outside of the box" . From what I have researched so far these AMC engines all have rear sump oil pans, so at least that is a good starting point. Of course there will be much more to it than that. I will keep researching and who knows maybe that is what I will end up doing. I just don't know yet. If I do decide to go that route I will definitely stay within the OBD I years. OBD II and beyond gets way too complicated.
I had a 92 2-door Cherokee w/a 4.0 and 5 speed. It's a great engine. I considered the same thing when I swapped a 250 into my van. Ultimately I stuck with the ford, but now I'm wanted it fuel injected...
If you go this way, I think you should reconsider the OBDI thing though, I'd go OBDII. They built those cherokee classics until at least 2000 so there are ODBII versions.
I use a 2001 Cherokee as my urban assault commuter and it really goes good but the Cherokee is a light vehicle. Mileage is not that great could be a malfunctioning component.
I have read about a Ford or GM tbi and Megasquirt with some fabrication of certain components used on the 200. At one time there was lots of tbi vehicles in wrecking yards you would think it would be possible to go shopping at picnpull and pick up everything you need except the Megasquirt for cheap.