Yes they do fit, I have just last week finished putting a late TL Magna into a NL Pajero, as stated you need to strip both engines to bare, things to be changed over include:
oil pump and pickup,sump,intake,rocker covers,rear cam hole plates,timing covers,exhaust manifolds,dip stick tube,balancer
I left the Magna cams in place but thats up to you if you want to change them, you need to make a plate for cam sensor to mount to
https://dl.dropboxusercontent.com/u/92627780/plate2.jpg
I had a 8/04 engine from TL and i had to drill and thread 4 engine mount holes but have been told the earlier engines had the holes there already