If you're buying brand new... WAIT! The '04 Durangos will be out and hopefully sporting the new HEMI and then you won't have to decide which motor to get!
I have the 4.7 with 3.55 gears in my Durango 4X4. Unless you plan on towing more than 3000 lbs, the 4.7 will do you just fine. As others have stated, the 5.9 has much more torque but not much more horse power. If you go with a 4X4, try and get lower gears for a little extra pickup around town, such as the 3.92's.
From what I've read, the 4.7 and the 5.9 Durangos have identical acceleration times (0-60). However, the 5.9 R/T is a full second faster in the 0-60. With perfect conditions (no wind/hills), I can get over 20 mpg on the freeway at 65 mph.
Check out dodgetrucks.org for some first hand info from knowledgable folks.
Last edited by Intrepidude; 06-09-2003 at 07:29 AM.