My car started life with a CVH engine. Not a bad engine, but not the best either. Very vulnerable oil sludge problems if the oil isn't changed regularly. On the upside they are very easy to work on and parts are cheap and readily obtainable. Also because of the age the emissions limits on them are pretty generous, so if tuning is your bag then there's loads of scope.
On balance I would say the Zetec engine was a huge improvement, and the Duratec better still.
I swapped mine for a Vauxhall Ecotec VVTi motor, which I think is the perfect engine that Morgan never fitted to a 4/4. Same power characteristics as a 4/4 Sport, but 165 bhp.