I've gone 1J, then 2J, then singled the 2J, and then found water in the oil (grrrrr!!). Went back to 7M for ease of availability/install (nothing fits better than stock).
Now, I am going back to 2J. After all the trouble and thinking that staying stock would solve my problems and let me enjoy driving the car again... I was wrong.
I've got gremlins and have had a heat soak issue that while probably solve-able, has been extremely frustrating. So, I was already considering dropping another 2J in there and had another heat soak episode.
I figured... the 7M I have came out of an 87. That makes it almost 20 years old (older than some of the kids here ;-). I could do like others and rebuild, etc, but there's always the fact that everything else around the 7M (electronics, sensors, etc) is 20 years old. I bout a new engine harness for my 7M and have spent alot of time and $$ to make it run like new again.... not in the cards for me.
1st... without starting the debate. With what I have spent on the 7M, I could've easily dropped another 2J in there. Off the bat (stock) the 2J has more power, reliability, and potential. The 7M does too, if you rebuild, go MHG, etc, etc. Dollar for dollar, I'd go to a newer engine just because I know that with each new generation, there are design differences that make 'em "overall" better. That does not mean that they are flawless or without their own weaknesses.
The other nice thing I like about the swap is having something uncommon under the hood (but not a GM 350;-). Swaps aren't for everyone and they have gotten easier over the last few years. As the community gets older, we will loose ppl like Urbano, and some of us other old folk that have gone thru the 1st timer's pain and experimentation. It's easier these days and the uniqueness has it's perks.
Cliffs: It's a personal decision, based on what you want out of it, ind the end. Good luck!