As a note, I live around 9000 ft. You need to look at what you are wanting to use the truck for. The 2f is a dog in higher elevation, even fuel injected. If you are planning on daily driving this, taking it over passes, and hauling the family around with it, you should probably see if you can drive someone's rig with a 2f. It will probably drive a lot like your 80. They really lack power and are hard to push up hills. I always have run a v8 because I like having good power if I need it. You can drive up here with a 2f, but don't expect to be going anywhere super fast, especially if the engine is pretty worn. If you are just wanting a wheeling rig, the 2f is fine up here in low. The gearing is enough that it feels like it has power, and it will take you most places you want to go.
The heat and noise that a v8 gives can be moderated pretty well, and it should have been done if the rig was restored right, but do be careful of the v8 hacks that people do. They will usually hide a lot of problems and will show the quality of work that the PO did.
I would personally choose a v8, as they do add to the driveability of the rig, and that is what I do. I don't have a purist show rig, just because it is not very practical up here. I would talk to
@cbmontgo , as he drives a carbed 2f up here with me.