I own an SVT-40 and it is alright. I have an M14 on order and am excited to get it. I have shot both enough times. I think that most of what has been said is true. However, I think that the price differnece has been downplayed a bit. While it is true that there is some cheaper .308 ammo available, it is not always readily available in the store. In my experience I have always been able to get SVT40 ammo for cheap locally thus far for 50 cents a round.. One negative of the SVT40 that has not yet been mentioned is that is has GARBAGE sights. Very similar, if not identical, to SKS and CZ858 sights. Like I said, garbage. Also, the optics options are pretty limited on the SVT40. I am not at all unhappy with my SVT40, but if I had to start over and could only choose one rifle, I think I would opt for the M14.
Happy shooting, Nick