I have owned my Explorer for a year and a half now, with no major problems. I bought it to take my GTO off the road. It needed some work at the time of purchase: Front wheel bearings, a starter, thermostat, IAC motor, brakes and BF Goodrich All- Terrain tires. Recently, the transmission began acting up, but it is most likely an issue with a shift solenoid and separator plate gasket which is common in these models. Should be an easy fix. Due to it's short wheelbase, it also offroads great and is fun to drive in the snow or snotty mud. Over all, a great truck. After I drive the wheels off of this one, I will certainly buy another.
Ability to shift-on-the-fly from 2x4 to 4x4 hi and lo, bulletproof engines and differentials, cheap to operate and maintain, decent highway mileage.
V6 models should get the beefier V8 transmission, nicer interior materials and fit and finish, a more powerful V6 would be nice.