i made the same decision a few weeks ago.i didnt mind spending the extra money to get the beter machine, however for me it turned out the better machine was the less expensive one. i suggest you contact Tim at adair argo, he can help you make the right decision even if you dont intent to buy from him. one word of warning tho, he will make it very difficult to buy one anywhere else. I like my frontier EFI, the only thing i might have would change is the tires, i think the 25" tires offer more flotation. I have only ran mine a short time. I definitely prefer the air cooled engine, I have ran rock crawlers for years and water cooled engines just add one more thing to go wrong. I prefer them in my car, on pavement but in an offroad situation I prefer the air cooled Koehler better. You will not notice any power issues with the EFI engine, I regularly go up and down a steep road and have no problems. I even run it in high most of the time. I have the 3.3 trans which is lower geared but I am not sure how much, I go slow mostly so it's great. I have not taken it down the road yet but it seems to be as fast as my max iv was. I had 4 adults in it this weekend and climbed up the hills and in and out of the creek with no problem, only floated for maybe 10' but it handled that much weight just fine.
Jason
2015 Argo frontier EFI Camo. 4000lb vortex winch with synthetic rope. 3.3 trans.
~1998 Max IV (SN 14428) on 26" TRU Power tires, winch with synthetic rope, rear seat moved back 5 inches, flip top rear seat with storage underneath, 55 lb thrust trolling motor, #24 marine Battery and a bilge pump just in case.-sold