Older 7.3 Deisel vs. Newer Ford Engines

There was a major change mid year 1994. The early and late engine are totaly different engines sharing only displacment. Your mention of installing Banks leads me to believe you have the early indirect injection engine. If I owned a clean,one owner,low milage(200k or less) 7.3 of any vintage and could do most my own wrenching,I would maintaine it and drive it until the wheels fell off. The banks doesn't help enough to justify cost on the idi. For that matter swapping turbos on later direct injections isn't imo,cost effective either. If you need more power,going from idi to 94.5 through 97 di turbo is an option for about the same money as installing after market accessories. If yours is di turbo,trading up to 99 to 03.5 will do the same. The 6.0L has even more power than the late 7.3 but you must be dedicated to making a few minor modifications and monitoring the engine or it can potentialy drain your wallet. If the 6.0L doesn't meet your power needs,skip the 6.4 and go for a 6.7. Right out of the box,a 6.7 is a powerhouse. A late release software that increases 6.7 power and fuel milage is available free from any Ford dealer. As far as tuners or chips (same thing)you are tradeing longivity for power,ON ANY ENGINE.