thats totally up to you.
the fact you would ask makes me hesitant to suggest a v8. theres no major economy win over a diesel swap...diesel fuel has options a 302 will never have to make it ridiculously cost effective. so a 4bt has some huge potential and a definite worthy endeavor..
reliability is a non issue one to another in my eyes...the v6 if in sound condition is just that. extraordinarily reliable is my experience with the rbv engines if one takes care not to overheat them and is reasonable on general maintenance.
nutless is being kind about the 2.8/2.9/3.0 engines, but that is relative....most 302's are nutless as well in the 300 dollar range in my experience.
to muddy it all up, i would do the v8 with an overdrive....simply because i can.
its very easy to do for many, yet seemingly impossible for some
if you stay near stock weight and size along with reasonable tires...say 373 gears and 33 in tires, your fuel economy is tunable to acceptable levels and its possible to rival or do better then you can with a 2.9 in the same conditions. in my cruise conditions when i went v8 i won on hiway cruise mpg's over the tired 2.9 and had tons of power and a proper sounding vehicle to my ear to boot.
easy button is the same engine.
smart upgrade is a 4.0
difficult upgrade is a v8 of course.
in todays market i would run the lowest mile 4.8 or 5.3 powertrain i could find...something from a 04-08 gm truck would be a likely choice for a gas v8 engine if i needed a longterm college ride that sounded good. a good alum 5.3 unit from a h3 or something would be an insane improvement over a 2.9...but not a weekend swap and probably be atleast 3-4 k to do it quickly.
looking at it this way....buying a different running truck is probably the most cost effective thing to do...
