Nice debate. Here's my thoughts.
Most guys that are running the OZ heads have done so because thy don't care to mess with multiple carbs, so that needs to be taken out of the equation all together. And may not posess one or all of the following, the time, the skill, or have the equipment to do the mods, like Doug and others.
We are comparing 2V to 2V, head to head. Both heads have equal exhaust runners and valves so no reason to discuss that. The difference is in the intakes. All things being equal (carb cfm, valve size, etc) I would say the OZ head will out perform the log head hands down. There is no way you can get the flow numbers of the log head to equal that of the OZ head simply by machining the log manifold and bolting on a 2V carb.
As for the cool factor, its just a matter of opinion. Some like the looks of the OZ head, other will appreciate the mods that Doug has done and will applaud his efforts. Want to talk about cool, bolt that triple sidedraft Weber set up onto an OZ head and you would have the ultimate cool. And the log head, regardless of the modifications, would be hard pressed to out perform it.
More bang for the bucks, I don't think any of the guys who have max'd out our 200's are really concerned about that. If cost per HP was a major issue we would all be visiting Stangnet instead of Fordsix.
If were talking
bolt on performance for the average guy with out the skills or tools required to make his own adapter and modifications, he would need to have this all done for him. Looking at the cost to machine the log, modify it to accept an adapter plate, have the adapter made up, and modify the accelerator linkage (which is more complicated for this set up than the OZ), it would cost somewhere between the cost of an OZ head to maybe half as much. For those who obtain the same skills as Doug and having the necessary equipment, then modifying the log becomes a viable solution, but only if its a TIY project. Even then, I still don't think it would out perform, or even match the performance of the OZ head.
Imagine if Doug would have bought an OZ head two years ago and spent the same amount of time on it that he has on all the different setups he has experimented with to get to this point. I would bet his flow numbers would exceed those of any log head, even with multiple carbs. Even Doug will tell you he has been tempted by the dark side, must be a reason.
But this is just my opinion. Guess that why I have an OZ head. As to which motor produces the most HP, I would say we are pretty darn equal, and it would be a good match at the track. Right Doug? So when are you driving down to Phoenix?