Well, there were three different "Magnum V8" engines that you could get in the Dakota. There was the old 5.2L, an ancient and durable but very anemic engine, formerly known as the 318, which started life as the 273 in the early sixties. Then there is the 5.9L that came in the R/T edition, that was "supposed" to be the "performance" engine. But my truck had the 4.7L, which was the replacement for the 5.2L. The 4.7L was a Mercedes overhead cam V-8, with all the modern bells and whistles, and came in 225 hp and 255 hp versions (It now makes 304 hp in the Ram, the Dakota is discontinued). The 255 hp version would outrun the 5.9L in every meaningful test you wanted to try, but for some reason the 5.9L continued to be marketed as the "performance" engine.
My truck is actually somewhat rare, in that it's not an R/T, it's a GT. The GT package came with the R/T suspension, (1" lower, Bilstein shocks, stiffer springs and bushings, thicker front and rear anti-sway bars, quicker steering ratio), along with a bigger radiator and battery, an added electric fan in front of the mechanical engine fan, and the larger rear brakes from the 4x4. And of course the GT came with the Mercedes 4.7L and Mercedes 5 speed auto instead of the 5.9L. It's a very fun truck to drive. 
But yes, it's a gas hog...
