Conceptually, I *LOVE* the 4.7L... lighter than any other Mopar V8, fully modern architecture, and heck, cammers are just plain cool. The sad fact is it's unloved in the aftermarket, which is directly related to it's second fiddle position on the power scale. Why waste time making parts for a 400hp 4.7L when you can make the same parts for a 500hp 5.7L? The logic is pretty clear, but that was one of the cool things about the old Mopar Performance / Direct Connection days - every engine got some sort of hot rod parts.
I think folks that are looking for a relatively healthy stock-type power plant would enjoy a 4.7L. In general, that includes me - the current version makes as much power as my "warm" 340, and would likely get nearly 2x the mileage if the EFI was tuned right. Then there are guys like Duner on Moparts who put a little turbo on the 4.7L and really make it scream.
The problem for me right now is that, looking at new engine prices, the 4.7L is at least as much money as a same-year Hemi. Sometimes $1000 more. That hurts, and would be really hard to justify spending that much more for less... Still, I'm fascinated with the things, and won't know if I'm going Hemi or Cammer until I have one in the garage...
Clair