Hi IABL,
I voted for SH4, because of the many things that make its engine much more versatile than SH3's:
- a campaign split into years of war, which makes loading a breeze (almost instantly), compared to the 4-5 minutes of SH3;
- the much more natural behavior of AI ships (convoys really scatter and ships change course), vs. the unnatural zigzagging along the initial path of SH3;
- the possibility to use triggers and events in the campaign layers, allowing for a much more interactive campaign, if done correctly;
- the possibility to use auxiliary units (ships and planes) in support of the player, which - correctly scripted - would bring much more diversity in the campaign, removing the tedium of SH3's "go there, stay 24 hours then do whatever you please". A more eventful campaign is more fun IMO, and the interaction with other friendly units could really benefit to the gameplay;
- the possibility to bring in the game an unlimited number of playable uboats, compared to the predefined number of SH3.
Good luck and fair winds to your conversion mod!