Yup...the 4.0 and a slightly lesser extent the 2.4s are the AK-47s of engines...beat on em, drag em through the mud...overheat them... they'll take all kind of abuse...up to when something like this is happening.
Clearly the OP has got putting this together...done it twice, same results...so now it's time to make sure the head is straight and flat...you can eyeball it with a good straight edge...hell you can get a block of wood and sandpaper or big file and get it close.
You could try putting something like gear paint or grease on the head and place it carefully on the block and see if something isn't making contact...real thin coat of something.
Lots of redneck, third world things to try...me, personally, I'll do things three or four times and then try and get help and advice.
Trying the original head is a good idea... what's the stamping on the original head? Where'd you get the new one?
-Mac