disagree completely with the 4.7 coments.... i have heard of many people completely satisfied with that motor.... a great motor if your not town often...

 

I have yet to tow with my 4.7 but I have filled the bed a couple times already taking stuff to the dump and have had no problems at all with the power.
I have a QC4x4 5 speedand the 4.7 is fine. Even if I had to pull I think with my factory class IV I should have no troubles. And I'm getting about 300 miles per fill up, so it isn't all that bad.

 

I would say if your your ever gonna be towing, get the cummins they are incredible. My dads 07 5.9 cummins gets 18mpg. Although deisel here is more expensive than gas right now, the majority of the time its cheaper(when oil is less than 90$per barrel it seems).And if your ever gonnamod your truck there is no comparison to how muchpower you can get from the diesel per a $ thanthe Hemi.On the gasser side, I have the 4.7 and I have 3.55 gears, and am not dissapointed with the power. My truck will still spin the 33" toyo M/T's no problem. Knowing that there is more power out there than the 4.7 sucks, and I would definatly like to have the more powerful engine. But to say the 4.7 is a dog in not true, saying its a power beast is not true either tho....

 

i have an '07 QC 4x4 with the 4.7 auto and 3.92s. i pulled my 14x7 enclosed trailer 400 miles to indiana with no problems at all. i would guess it was about 3500lbs. i left it in tow/haul mode and only got about 9.5 mpg though.
as was said earlier, if you plan on towing alot with much more weight than me then i would go with the bigger engine but for anything less the 4.7 is fine. as for economy i get about 14 in town and 18 on the highway, just as the sticker said. i think the hemi is rated at 14/17 so i doubt you will see any mileage advantage with either.
i wentwith the smaller motor because it will doeverything i need it to do, it was $1000 less and i think the hemi is an overated advertisement monster. i know i'll get slammed for saying that but thats my opinion.
but if you need the extra power than go for it. if you don't need the towing power of the diesel then why spend an extra $4000?

 

My window sticker said 15/19 but it's also a 2wd RCSB...the city mileage is about right but i'm getting about 23 on the freeway going 65.

The hemi is over advertised but not over rated...it's a great engine and one of the reasons I decided to try dodge. When the hemi is putting down more at the wheels then the4.7 makes at the crank you know it's doing something right. The 4.7 did get a major boost in power for 08 though...and OHC engines definitely have their advantages.

 

drive a hemi. drive a 4.7 i know what you will choose. my buddy has a 47 long bed 4x4 reg cab. its a loaf. my dads got a hemi qc 4x4. walks all over that truck. pulling and gas milage. both have 3.92's

 

Had the 043/4 5.7 Hemi. Great power but anyone claiming they're getting 20mpg is smoking too much grass. Lucky to get 17 going downhill with a stiff tail wind. Then again it was the 3/4. Great truck though.

 

this is a question that cant be answered without a description of what you plan to do with it, whether cost is a factor, etc.

 

LoFlyer, the following is from a pdf entitled "2007 Dodge Ram 1500 Feature Availability", this is '07 specific but I'm not aware of any transmisson changes between the '07 and '08's.
!st........4.23
2nd.......2.52
3rd.......1.67
4th.......1.23
5th.......1.0
6th.......0.79
R..........3.84

Overall top gear ratios:

2.53 with 3.21 axle
2.80 with 3.55 axle
3.10 with 3.92 axle

By the way I have the 3.92 rear end and I'm running the optional 20" wheels, and this thing runs!

 

After all of that you answered your own statement... i'm sure it was a quad or mega cab also. Your speed along with driving habits also drops your mpg down the ****ter, so if you're going 80 down the freeway you'll get bad mileage. And again..i'm getting around 23 in my RCSB 2wd