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considering i have a 2005 4.7 with about every motor option you can get, an a 125 shot of hemi nitros, i can safely say my 4.7 jusy kicks a$$, but the 5.9 has a great block to start as a building foundation, could get up to 600 plus if you turn it into a 408. but if you leave both motors stick an go about your business. the 4.7 is a more efficent motor. the 5.9 tends to be a gas hog
It all depends on what you want, speed or towing power. I haven't heard anybody's opinion about either one. I have a '03 Dakota 4.7 and I can honestly say I've been very impressed. I have a 20' Triton bass boat, and that 4.7 pulls like it's nothing. I can't say anything for the 5.9 because I don't know a whole lot about it. It's funny this post is 5 years old; you can tell the difference in the amount of mods available for the 4.7 compared to the 5.9.
Thats the thing, the market for the 4.7 is no where near the market for a 5.2/5.9. They don't make heads and cams and intakes. Its hard to even find s/c'er kits for them.