A well maintained TDI will last much longer than a V8 and use half the fuel, you will be up for an engineers cert so i doubt the V8 is a good idea.
There is a cheap TDI defender in the markets that would be much better than your intended conversion.
The tdi may have less power on paper but is a much more drivable engine than the 3.9 especially with an auto behind it.
MY08 TDV6 SE D3- permagrin ooh yeah
2004 Jayco Freedom tin tent
1998 Triumph Daytona T595
1974 VW Kombi bus
1958 Holden FC special sedan
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