Bearing issues are small potato's. Same with frictional losses. While it all add's up on a race engine, a full, all out hold nothing back engine, the soulution is use of narrower bearing, as out lined in the MP book. Great for racing.
I like Rat Patrols post.
I have seen this thread question started a hundered times and there is never really a winner to this question. Perhaps, if the question was more specific and the perameters narrowed down, then a clear choice could emerge. However, for a street car or a street/strip car of no more than a 50/50 type useage, IMO, ethier engine would do.
LOL @ Dodge freak with an answer of a higher converter. This answer, while quit valid is closer to a first shot firing of the war between the engines. The first measure. Then a 360 counter measure arises, then a 340 counter measure, then a 360 counter, counter measure...etc...
The only problem I see with this is that it escalates into full blown race rides with some of the most wacky mods to go fast. The OP seems to have a street car at the ready.