http://www.fordrangerforum.com/how-s...procedure.html
Ensure that all timing marks align to TDC position, start routing timing belt starting at the crankshaft sprocket. Remove all tension between crankshaft sprocket and oil pump sprocket and route timing belt around oil pump sprocket. Remove all tension between oil pump sprocket and camshaft sprocket. Route timing belt around camshaft sprocket. Route the back side of the timing belt around the tensioner pulley and loosen the tensioner adjustment bolt - tighten adjustment bolt and spring bolt (17mm).
Place crankshaft pulley slightly onto the shaft and rotate the motor two full revolutions by hand (and make sure your timing marks still align - if they don't, repeat).
Remove crankshaft pulley from shaft.
Tighten down all parts (such as the crankshaft positon sensor) that you had previously removed and re-install any components to the crankshaft that you had previously removed.
Install the outer timing cover.
Install the center crankshaft pulley bolt (reverse of removal) and torque to 103-133 foot-pounds.
Install the four crankshaft pulley bolts.
Also: have you verified that you don't have your coils wired backwards?
EDIT: Half tooth off on the cam? I am guessing you are a full tooth of slack off between the crank and oil pump or between the oil pump and the cam. I would rather be that much off on the oil pump than the cam.