Re: 98 7.4L MPI. I found 4 blue engine drain plugs.
Make ABSOLUTELY SURE that you remove the block plug/valves and poke a piece of wire in there enough to clear any rust flakes and sand.
Mine had so much sand and rust in it that it was partially plugging the drain valves and the engine was NOT draining completely!
Before I installed the engine I removed ALL of the soft plugs (3 on each side.....I'm NOT suggesting you do this) and found almost a half inch of sand/rust in places around the base of the back cyls. (and it's fresh water only engine) On the right side the sand/rust had risen up to the level of the drain valve on the right side of the block!!
I flushed A LOT of "stuff" out of those holes with a hose. Mine had actually been "drained" last winter but the original owner didn't get all of the water out and a soft plug popped out on each side.

There were no cracks (luckily!!)
The popping plugs
did not (save me) and does not save you from cracks.
Those plugs are only there to close holes required during the casting process.....they are NOT freeze plugs.
Finishing up with Anti freeze is a GREAT IDEA. It puts A/F in areas that pool water like the risers, water pump, heat exchangers , and the drive (although most water should drain from the drive if it's lowered when you store it).....etc.
Cheers,
Rick