I'm the 2nd owner. Overall a good vehicle. The only major issue has been front and rear axle bearings; also ABS is touchy. The performance of the Jeep has more than made up for its mechanical shortcomings. This thing is a beast in the mud and snow. I've taken it into some very sticky situations and it has never let me down. Also, it was rear-ended by a 2001 Jimmy. It came out with relatively minor damage, while the Jimmy was trashed. I would strongly recommend it to anyone looking for a vehicle that will stand up to its reputation: a bit quirky mechanically, but great off road.
Overall, I have to admit I love this truck. It's very, very quick (especially with a few cheap bolt-ons), rides decent, and has more off-road ability than 99% of the drivers would ever need. My main complaint: build quality and reliability. My poor Jeep has spent more time in the shop than I care to add up. I would have gladly paid a couple more thousand for it if Jeep had put a little more effort into quality control.
This is my 2nd jeep. I bought is used with 30k miles. I have had to replace the water pump, power steering pump, brakes, radiator. I love my car but the repairs bother me. I have 100,500K now and have to consider the next car I will buy. I feel very safe in this Jeep on the highway. I feel if I was hit I would stand a chance of living and this is what separates the Jeep from the Jeep wannabes.