Hi and welcome!
I would deffinately do all the above mentioned maintenance that you mention, plus I would also throw in a PCV valve too. Sparks plugs would be a good way to go too and make sure you change all 8 (yes the 91 to 93 came with 8 plugs, 4 in the exhaust side to reduce emission output). I would highly recomend the OEM Motorcraft copper plug gapped at its correct spec.
While your under the vehicle changing the oil, take the time to grease the ball joints an so forth.
Now for the Trans, is there a CEL on? One check you can do is pull the trans dipstick and look at the fluid, examine it and smell to see if its burnt or not. Does the trans shift hard when your coming to a stop or just in general? You could change the trans filter and put fresh fluid in but with it having high miles, thats going to be a decission for you to make as there all kinds of arguements in changing trans fluid on a higher mileage vehicle.
You could also changes the Radiator fluid, Power Steering fluid but it all depends on how far you want to go
Spend some time examining the engine bay, looking for leaks or signs of bad gaskets.
For the A/C compressor been 'broken' as you say, whats broken on it? You probably will have an R12 system so if you were to service the A/C, you would need to retrofit it and possibly change the dryer and other components to suit the R134a.
Any other questions, just ask away
