I bought the truck used about a year ago. Very nice truck, the ride is a little stiff, but I don't mind that. The seats could be a little more comfortable, but other than that it rides nice. It's only been in the shop once, a friend of mine kicked the inertia switch and broke it, so that's nothing to blame on the truck. Plenty of torque, I've towed a 4000 lbs box trailer with relative ease. Fuel economy is not great, 19 MPG was the best I got, going 60 on mostly highways using cruise control, but it's a truck. Stereo sounds good. I like the overall look of the truck. If you get the sport mirrors, a set of blind-spot mirrors might help; they don't show a wide enough angle to see.
Pioneer stereo, white guages, plenty of power, grille, Ford bedliner.
Better fuel economy, Possibly a small V8 (Ford put one in the Explorer but not the Ranger), softer seats, stronger rear suspension