You can do it on jack stands provided you can lift it at least 1.5' to 2' up at the front. But you need a hoist too, to hold the engine. I've dropped a few trannys like this and it's not too bad. It will take you a while the first time you do it, trying to find all the bolts and crap you need to unhook. Especially fiddling with the hook up to the steering rack - although my g/f's dad, who was a Ford tranny mechanic says it's easier to unhook the link from under the dash than the one at the rack itself. I'll have to check that out with the next job I do.
Fastest I ever did a trans swap in, was 8 hours. That's with having a new trans standing by readiy to go in, and it was using a hoist.
