Let me restate that a little.
According to Motor Trend:
01 Sport 4x4 SOHC 8.4s 16.5@83mph
00 XLT 2x4 V8 8.4s 16.4@83.7
Assuming the 2dr and the XLT are the same weight (very close because of extra length on one and 4x4 on other) this shows a very close race. Also consider that a 4x4 sport most likely has 4.10 gears.
So for a 4dr V8 and a 4dr SOHC (both with 2wd or 4wd for weight comparison) the 0-60s should be about the same. A V8 weighs about 100lbs more but it also has 10 more HP and more torque whuch makes up for the weight.
In the quarter mile torque makes more of a difference (especially when pushing a 2 ton brick through the air at 60+ mph) so the V8 should edge out the SOHC slightly if everything else is equal.
In conclusion, assuming everything else is equal (body type, driveline, gears) the V8 vs. SOHC shootout should turn out pretty equal. So it comes down to driver preference. It's obvious that a smaller body style w/ less weight will beat the bigger bodied truck. Once again I return to the V8 Sport idea...
Now, since I own an AWD V8 I have to come up with something to boost my ego. Therefore, I challenge any of you with a 2wd to a drag race in the pouring down rain...