I wheeled my 85 Jimmy until 1 year ago when I finally got the CUCV frame and body I wanted. Now I'm in the mist of a total rebuild. In my opinion it has the best of both worlds. It's reliable and strong. The 6.2 gets around 20-22 mpg and still can move a big ride. Like others I believe that its really in the gearing. My build up is consisting of a 700R4 , NP203 Np205 Doubler, D44 FT and 14 Bolt RR axles. If you are going to be running a mud rig I might choose another engine for better HP unless you are ok with doing some heavy mods to the engine. Don't get me wrong there are plenty of guys out there that have mud rigs with diesels in them, but I think a larger hp engine would be better.
As for the 6.2 and 6.5 respectively; in my book they are the best diesel around for the money. Parts are everywhere, cheap price, better mpg than other, quieter most of the time, pretty simple to work one, and reliable.