not to start the argument yet again but having owned a few of each in all states of tune my feelings are... I prefer the standard 8v engine to the standard 16v as it has far better throttle response and low end torque but as a whole car the shorter gear ratios get very annoying on the motorway. 16v has longer gears and cruises better at speed.
As a modified motor I prefer a well tuned 16v 2ltr to a 2ltr 8v engine. The 2ltr bottom end gives the 16v the torque it was missing in 1.8 form and a bit of fuel / ignition tweaking to advance the ignition slightly gives the best throttle response you'll get in any modified mk2. The 16v is also way way faster than a 8v once they are both ported, polished, lightened etc. Only advice I can give is stay away from uprated cams in the 16v. They do far more harm to the usable power of the car than good!
Regards,
Ben