"More of one can compensate for less of the other." That would be correct if the diesel made more torque than the Hemi, but it doesn't. It makes neither more horsepower or torque. Horsepower is much less, in fact.

And since acceleration is torque X RPM X GEARING, the higher revving motor stays in a lower gear to allow more torque multiplication to the wheels. Even a CV transmission is limited to the rev range of the motor that drives it. To offset the likely halving of the rpm's of the Hemi, the diesel would have to make much more torque than its current rating. That would likely be around 560-600 lb. ft.

The motor that has equivalent torque and higher horsepower will be "quicker." Always. The horsepower rating says so. Doesn't necessarily make it a better motor, but it does make it quicker. In roll-on acceleration, where the vehicle is already moving, it wouldn't even be close. The revving motor would have downshifting available to boost acceleration via torque multiplication; the non revver would not.