This article pretty well sums up why I went with front shackles:
http://www.ih8mud.com/tech/shackle-reason.php . Some of it does not directly apply, but I'm hoping this will help the front end stay down when climbing and control brake dive. Not needing a long travel driveshaft will be nice too. There has also been some good discussion over on Pirate on the subject recently:
http://www.pirate4x4.com/forum/toyota-truck-4runner/2000274-drop-hanger-vs-shackles-up-front.html . I also like the fact that this way I can adjust the shackle angle to tune it a little bit. I would like to put a small plow on it for winter eventually, so adjusting the shackles will let me compensate for the extra weight pretty easily. At one point I was hoping I could french in the rear hangers, but I don't think my springs will be tall enough if I do that at this point. When I was still considering spring over, I was looking at ways to put the springs flush with the bottom of the frame in the front, but that would have involved pinching the frame rails and making some crazy spring hangers, so this was my compromise. The shackles hang no further down than most drop hangers, and I will probably make a skid plate to go in front of them that will tie into the bumper.