^yes lots of threads about pro's/con's on pirate. the general consensus from what i've read is shackle reversal handles better on the street, but can cause the jeep to nosedive under hard braking. most people seem to think shackle forward is better for climbing offroad as burrellsjeep has posted.
couple of other things to think about are that b/c the tire moves backwards under compression a good shackle reversal needs to lenghthen the wheelbase. this can also limit the tire size somewhat.
edit: jeez i forgot. there is a whole other debate about whether this is better on a soa or sua setup becuase of the relatively flat springs or the heavily arched springs. basically some guys believe its better for sua and not needed for soa.