I've owned a 99' Ranger 3.0L 4x4 and currently own a 05' Ranger 4.0L 4x4.
They are both incredibly fun vehicles to drive, and the 4.0L in the Rangers provide some really good power for the size of the vehicle. Personally I feel that a truck without 4x4 isnt to be considered a truck, but then again we get over 200 inches of snow a year so I'm a bit biased.
Neither truck had any mechanical issues up to the point of me getting a new vehicle. 99-03 Rangers have small cruise control issues, fixed by a free recall. Also the 3.0L Rangers somtimes have transmission issues, but I never saw any hint of such things.
I'm happy to see some other Ranger lovers in here, Ford Trucks for life.
Glad you're going for a truck though.