it can be done...
I saw an engine crane a guy converted to a hydraulic pump..he used a power steering pump and an electric motor to drive the pump(mounted it under the "jack" or hydraulic cylinder--coupled the motor and pump together shaft to shaft,no pulley)...he did it by removing the "pump" you pump up by hand with the handle,it unscrewed from the cylinder..he made up a hose with the same threads and "O" ring at a hose shop...it went UP fine,lifted a V8 motor like nothing!---but as soon as the motor was shut off,it would come flying back down just as fast!
I think he was going to try using a "check valve",to stop that,he wasn't quite sure how to do it though..--
I haven't been to his shop in a while,and I don't know if he suceeded ,or if he gave up on it..
I think it could be done with a manual valve,or maybe one thats solenoid activated like on those dump body pump/resivoiur units use..you might need to tap the "return" line into that hole for the screw you loosen to lower the crane,in order for it to work..

--you'd need it to "hold" the fluid from being forced back into the resivoiur,so the piston wont drop the load..and some way to release it back to the resivour via the valve,to lower the load..
(one sure,easy way to do it would be to use a snowplow "valve body",and the cylinders off it as well..not sure if they would be a long enough stroke or not,but you'd be certain the hydraulic part would work fine!--you COULD buy a longer cylinder..

)..but like you,I'm cheap,and would rather use the "stock" engine crane cylinder,if possible..
I have been tempted to try this myself,I have a spare engine crane I'd like to mount on my truck (minus the legs) and use it as a swivel hoist..they DO sell air AND hydraulic cylinders in Northern Tool's catolog,and they look pretty much the same as the "manual" type--its how they "modified" it we need to know!..
I have a similar "crane" on a flatbed that used to be on my K20 I junked..its now made into a trailer,and has a small electric winch..but the winch alone isnt the hot setup ,it works,but is slow,limited in capacity,and the "boom" is always sticking upright,it has a huge turnbuckle to adjust the height,and its a PITA to move it to lower the boom arm..it could be lowered easy if it were hydraulic,plus it would have much greater lifting power,and be much faster,and not drain the battery as much.
.(I could use a starter motor to power a pump,or use the electric snowplow pump I already have!)
..I can lift about 1000 lbs with the winch,but its straining pretty hard..(but I don't really lift anything heavier than that anyway)..
At any rate,I'd get more advise from someone who really knows hydraulic curcuits and cylinders..I bet its not to difficult to figure out..if I had some hose fittings and valves,I'd be out in the shop playing with it..and figuring out how NOT to get the load dropped on top of me!..

..it CAN be deadly playing with stuff like this!..BE CAREFUL!!..
