Keep in mind that you'll need to at least probably swap gas tanks. The EFI has the fuel pump built in it. Sending unit may be different as well. Other than that, the engine and tranny will bolt together fine. I'm not sure how the EFI in the '87 can be "bypassed" though. Someone will chime in. Usually, it's the other way around, to convert TO efi, not from.

85 4Runner - With NEW Marlin 4.7 Gears!! It's a whole new beast!