Inner fender adjustments are the least of your worries. Steering box and manifold interference is listed as the biggest hurdle when installing a v8 in an AD.
Advantages to a v8 would be power and speed, but you knew that.
Disadvantages will be fuel mileage, depending on how you drive, and all the work and money it takes to pull off a conversion.
I think another disadvantage of a v8 in an AD is that everyone has one, it's a "belly button engine" as they say.
Personally I don't look very hard at an AD with a v8 when I see them in truck shows.
Consider what you want to do with your truck, then think about engines.
I suggest a 261 or something completely different, like a diesel.

What size truck do you have?

Grigg


1951 GMC 250 in the Project Journals
1948 Chevrolet 6400 - Detroit Diesel 4-53T - Roadranger 10 speed overdrive - 4 wheel disc brakes
1952 Chevrolet 3800 pickup
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"First, get a clear notion of what you desire to accomplish, and then in all probability you will succeed in doing it..." -Henry Maudslay-