I tore into the bottom end of the 2.5 to get it unsiezed so that I could turn the crank to get at the converter bolts since I need it for the 2.7.
Here is what I found on rod journal #3:

A close up of the cap and upper bearing:

The oil pump was fine, but the pickup tube screen certainly appears to be a little on the clogged side...

There doesn't appear to be any other damage that I can tell, so a new rod and a polish of the crank journal just might get the engine back on its feet although a complete teardown would probably be a better bet.
The cranks turns by hand now, so I was able to unbolt the converter and flywheel, so I'm now ready to prep the 2.7 for installation.