I think people do v8 swaps because they have a vehicle they love, is classic, and is more capable than most other vehicles..... but they hate the sluggish, inefficient, spaghetti line mess called the 2f.
Just my opinion of course. Darn purists...
Now, hold on. There's a difference between air pollution and noise pollution. Every rig is going to put out exhaust, but unless it's a diesel with a huge amount of blowby, it's going to take a lot more than one rig to do much to the air in a given park.
But noise, that's different. If you like getting to actually see critters up in the mountains, you don't want the (admittedly badass) V8 rumble that most converted 60s seem to produce. Granted, a factory-style exhaust will make a V8 fairly quiet, but a 2F with an equivalent quality exhaust and properly adjusted valves is going to be quieter nine times out of ten.
Now, the spaghetti mess, I totally agree with. That's why I desmogged. And, y'know what? If I was in a place with emissions testing, I probably would have considered a V8 swap, or a diesel (neither of which I could have afforded).
And the automatic transmission...that's a whole different kettle of fish. I personally hate driving an automatic, even though it *is* easier offroad. If I did a V8 swap, it would be pushing an NV4500 or H55, and even with the low first gear on those, the V8 is still going to have trouble pushing you along at really low RPMs compared to a 2F in front of the same transmission.
If you're using higher-performance V8s like a ramjet (or anything else that puts out considerably more horsepower than the 350s/5.3s/etc. in suburbans/pickups), you should start looking at the torque/horsepower numbers for things like 2FE builds.
The garden-variety 2FE actually puts out more torque and horsepower than a 'regular' TBI 350, based on the dyno numbers somebody got. I think it was 135 RWHP at 3200 rpms, which is 180+ horsepower at the crank. At 3200 rpms, a TBI 350 should be putting out around 170.
Torque was something like 225 at the rear wheels, for about 300 at the crank...at 1600 rpms. A TBI 350 doesn't get to 300 ft/lbs until like 2800 rpms.
But this is all a bit off-topic. I guess what I'm saying is, it's not as cut-and-dry you guys who prefer V8s say it is. There are obvious benefits, but there are some drawbacks beyond the large pricetag for a good V8 swap.