Heres what my Mustang book has too say about it:

"Sometimes referred to as the 'Lima' engine, because it was supplied from Ford's Lima, Ohio plant, the four was the first American-built engine based on metric demensions. Originally designed for some of Ford's larger European cars, it was actually a bored-and-stroked version of the 2.0-liter Pinto unit. A novel feature was its 'monolithic engine timing.' A factory computer set the timing of each engine automatically by means of a distributor adjustment. The resulting degree of precision helped meet increasingly tough emission standards."

Basically, its a SOHC Inline 4, 2.3 liters, 140 CID. As for engine output, it varied (at least in Mustangs) by year, as follows:
1974: 85bhp
1975: 83bhp
1976: 92bhp
1977: 89bhp
1978: 88bhp

This is pretty much all I could find in my book about it. Obviously, these year Mustangs are ones that most people would like to forget about, so they don't spend much time on them in the book.