3rd Ranger I have own and never have had a major problem. First Ranger I ended up selling after it rolled over the 300,000 mile mark.
The 4.0L is a peppy motor. Granted it is not the most powerful but it is respectable.
Personal Opinion they have the best styling of any small pickup. The body lines flow nicely and overall is just a slick looking truck.
No major problems on any Ranger that I have owned. Keep up on basic vehicle needs and the truck will last for a very long time.