Trading up definitely makes more sense than modding up... but, cruising home from work last night I was over taken by a couple of V8 'stangs playing tag.
They were about to come on around me when I dropped the V6 into 3rd and wound her out past 7K, then well into 4th.
Could have sworn I heard those boys say.... "DAMNNN!" but I'm not sure, coz they were pretty far back by then.
You're gonna spend it- it just depends on what you enjoy spending it on.
Fact is (imho), a modded V8 is more motor than you can ever use on the street. But a well modded V6 is a thing of beauty that requires some effort and ingenuity- not just $, to achieve.