Dang. JTK posted an image of the LX9, which I thought had been discontinued and replaced by the LZ4 at this point in all models. A quick check of GM's media site reveals that they are, indeed, still putting the LX9 in the Malibu, and coolant is still flowing through the LIM in this engine; also, it lacks the VVT system in the LZ4/LZ9. Supposedly, they have fixed the leaking problem as of 2005 in the 60*'s, but there is no doubt that the LZ4 has a much better design.
For comparison, this is a photo of the LZ4:
You can see the external features of the U-flow design of the cooling system (the "upper" and "lower" radiator hoses both connect at the front of the engine) and the VVT system on the LZ4 which aren't on the LX9.
It's still a very good engine and should provide you good economy and reliability, but it's not quite a nice as the newest LZ4/LZ9's.
JohnBrowning, I've worked on, cared for and driven many of these engines, quite a few in the 200K+ range, and only one had suffered catastrophic head gasket failure (a '95 3.1L, with 216K miles); and I've never seen one in my travels with main bearing or rod knock. In my experience, the bottom end of this engine is virtually indestructible.
I'd recommend a 60* 100% over the Ecotec, and personally, I'd have one over the new DOHC engines as well (though my opinion might be biased, I really don't like OHC engines in general).