When I was leaning towards a TR engined Plus 4 I was given the opposite advice by a friend who knows Morgans i.e. go for the Ford Kent engine. And I did. But this was not so much to do with reliability - just that the lighter more tuneable Ford engine, combined with its nice gearbox, gives a better drive.
Others on here will have far more experience than me but there's probably not much between them when it comes to reliability and parts availability - although the Ford was made in much greater quantity so that should give it an advantage. You won't be disappointed with either car.