All good, Mate, figured it was a typo. 👌

All factory 5.0L engines mid 1981 and later were 50 oz balance, both the earlier (pre '85) flat tappet and roller engines. 5.8L engines, flat tappet and hyd roller are still 28 oz.

That's it yes! The loose threaded bracket, sits against the tyre, with the threaded end in the slotted hole of that welded bracket.   The wingnut winds on the thread upside down, so it tightens backwards against the outside of that welded bracket, thus pushing the loose threaded bracket, against the tyre.

I feel like this should be simple but its got me stumped This is the correct bracket right?

So the wheel dosent sit flat on the floor?

Can confirm, as I own an October 86' F250 302W, with factory flat tappet cam block, and v-belts. Not sure on the balance spec's though.

It threads onto a removable threaded bracket, that wedges against the tyre. The wing nut threads onto the bracket in reverse, and is then tightened down against an opposing bracket, welded inside the wheel carrier - on the RHS.   XR-XG utes/vans all use the same bracket/nut.      

You are correct, I probably should have spell checked

50 ounce imbalance, not 58. I have several of these engines.😎

My ute came with the spare, jack and a wing nut but I cant figure out where it bolts to. There is no hole in the center for the nut and I cant find a photo on the web. A photo would be much appreciated