They have their pros and cons for sure. My dad has a 1991 850i and an 1989 750il. Both have pretty much the same V12. Those engines are as smooth as silk, but the exhaust note is not as exciting as a V8. You can never get that V8 burble. Even on the 850i, which has a Remus exhaust. I am not sure about the engine in the 2001 750il, but on the older V12's in my dad's cars, there are two of everything. They do get surprisingly decent MPG on the highway if driven very conservatively, for a V12 anyway. I don't think going with the V8 in a 2001 model is a big step down performance wise, is it?