94 Mercury cougar?

What kind of mods are possible on a 94 Mercury cougar? Is the 4.6SOHC V8 the same one that is in the mustang? If not are the parts interchangeable? How strong is the stock 4R70W tranny? Any and all input would be hugely appreciated.

I think they are the same, but df they aren't they are going to be very similar. I owned an 86' Cougar as my first car they were very similar to the mustangs then also. I had the 3.8L V6. If it were the 5.0 I may still own the car today! They also made it with the 4 cylinder turbo engine I think they put into those contours, or whatever!

Thanks for teh info man, I just bought one like 10 minutes ago!