owning 2 FWD cars and a RWD car, and learning to drive on a RWD car (mothers '89 Brougham), and a huge stack of mechanical knowladge, I will through in my input.
FWD - great for normal driving... what is "normal driving"? honestly anything my Oldmsobile would see... trips into town, knock around car, and even the ocasional thow it around the twistys (that cvar handles pretty damn good for what it is) I can spin the tires from a stop, but the Series I 3800 dosn't have the power to keep spinning them.... so RWD wouldn't do anything for performance there..... I don't have any torque steer either.... the wheel dosn't jerk either way... this car is also amazing int he snow... I never got it stuck, even when having some "fun" in an open field with 3 feet of snow, and the snow was coming over the hood....
- Also, the '93 DeVille... while not as much HP as a N*, torque is similar... she'll spin a tire for a second or so, but with the 16" wheels and good tires, she grips very quick.... I never have a problem with FWD... most the things I said about the Olds can also be applied to this (minus the snow stuff

) there is no torque steer either.
RWD- for performance, I like RWD far better.... something people over look with FWD or even AWD.... burnouts... burnouts are always cool, FWD dosn't look as cool and you can't do it with AWD.... you can't power slide a FWD or AWD car like you can with RWD... RWD is far better for doing stunts or just acting stupid with.... even with the front heavy '79 and worn tires... i never have a problem in the rain... the steering is much more loose... but that is the car (I usually drive with 1 finger on the wheel... even around turns and stuff) and nothing beats the ride and quietness of a full frame car.... that is a given....
FWD vs. RWD also... like was mentioned.. the hump... on the RWD car, you have the driveshaft, on a FWD car, there is still a hump for exhaust and stuff, but it is not as big.... RWD cars are hands down far more easy to work on... engine, tranny.... anything... plus, the engine just looks much better sitting lengthwise in the engine bay....
I remember one of the biggest thigns I hated about my '93 was the fact it was FWD.... now that I own a RWD car, it dosn't bother me anymore.... dare I say i enjoy driving a FWD car (Olds) as a daily driver.... just a different feel.... and giving power to the front wheels at certain times can help when recovering from a slide or something.... still, nothing beats going sideways down the road in a 20ft. car in the rain.... heh... that was fun
Only thing I wish is that my RWD car had more power, and a more aggressive rear end... with Posi

but I no longer make a big deal with FWD anymore... and honestly, when you have a decent sized engine bay with a slightly smaller engine... such as the 3.8 V6 in my Olds (same bay size as the '93) it makes working on the car very easy.... the rear plugs are a breeze to get at... only thing that would be difficult would be the water pump or AC compressor.... neither of which have gave me trouble... the 4.9 OTOH.... it is jamed into the engine bay so tight.... ahhh it is a major PITA to work on....
my fathers '99 Grand Prix GTP... slightly modded... if I was to guesstimate, I would say around 275hp and 320ft*lbs of torque.... atleast.... that car grips very well, dosn't sit there spinning the tires.... but, it does have alot of torque steer if you step on the gas....
Any performance type car would definitly be RWD for me... if I lived in an area where snow was a regular thing (no as much here in upstate NY) I would defintiyl get FWD... actually I would get a Subaru AWD..... but i no longer worry about getting the '96+Eldo/'98+ Seville STS becuase of FWD.... but they are a pain to work on....
So in closing, I will support either case... nothing beats a full size, body on frame RWD car... but FWD has it's place, and I do not mind it at all.... the whole package has to be considered though, and I would say that on something like my '89 Olds.... there are just so many damn good things going on that car, that FWD just finishes off the package.... makes it a very fine car to drive....