I finally found out what was really wrong with my Ranger. I took it to Mexico and got a top end rebuild. Ford had never put a bolt in the end of the exhaust manifold right by number 3 cylinder.
The mechanic that rebuilt the heads called me and showed me the # 3 exhaust valve. It was slightly warped. He said it was probably because the factory forgot to install a bolt in the exhaust manifold, he showed me the rusty threads, there has never been a bolt in it. When I bought the truck it had 4 miles on the odometer. It runs great now and the top end rebuild only cost me $150
( I supplied all the gaskets, oil, filter and antifreeze )