I too have "heard stories" of guys that have done it but haven't really seen it work myself yet. The closest I've seen is this"
"Plain Jane Mustang":
http://www.cardomain.com/ride/2971175/7
Apparently he's done it but not driving it yet.
I actually have the explorer rearend sitting in my yard waiting for the swap. The Pinion is offset so much that the shop that installed my T-5 transmission did not want to install the explorer rearend.
From the research I've done I think that the way to do it is to shorten the long axel tube to equal the other side then get another axel from the junk yard or buy new to install in the cut side. This will even things out.
Let us know if you find something. I'm real close to starting my experiment, when I do I'll post pics.