Might I also mention the sound of an engine. One of the unique characteristics of an engine/car is the sound it makes as heard from inside and outside. A 302/361/347 with a crossover exhaust will have that "GT40 sound" which we all know and love.
Good point. Lets be honest, we're interested in GT40's because we love them and the sound is a part of that. When I was floating different engine choices with various people they were suggesting various 6 cylinder, 4 cylinder turbo engines etc. All discounted because they weren't V8's, partly because of the noise but mostly because they're not V8's. I may not have gone SBF but there is no way a V8 wasn't going to be in there.
Four valve per cylinder motors sound very different as the two exhaust valves give a "softer" sound as the piston finds it easier to push the gas out. So whist you can get more power from alternatives the combination of firing order, valve arrangement and exhaust gives the special aural characteristics as per the original cars.
Now that's interesting, I knew the size and firing order could make a difference but hadn't considered that the 4v/cylinder would make a difference. It is worth mentioning at this point that the 1UZ-FE while 4v/cylinder has exactly the same firing order as the 289/302