It cracks me up when people say the older diesels are low power engines.
That’s easy to adjust, with the right turbos, a set of head studs, some injectors and other tweaks.
It’s the tuning that sets the power level.
The advantage to the earlier models is simplicity, which inherently means reliability. The less there is to go wrong... the less goes wrong. You just can’t get around that.
If you turn all your own wrenches, you don’t want a late model.
The newer ones are super quiet and come already set up to make better power, they’re easier for someone who just wants to buy something with a warranty and isn’t up for setting it up themselves.
Both are “better” in one way or another, it’s an apples-to-oranges pointless comparison.
That old 7.3 can make tons of power if you want it to, it’s got more displacement. But it won’t do it quietly.