Hello Jeremy.
I bought a 2000 Ranger XLT 4 years ago. I have had hardly any trouble with it. I changed the Idle Air Control Valve ($35) this summer when I noticed an intermittent problem starting the engine. The problem was detected by an OBD II Diagnostic Code Reader ($29 on Amazon). I also swapped the radio to get bluetooth/cellphone/handsfree capability. This summer I changed fluids, filters, wires, and plugs just because I thought it deserved some respect and love. There was a noticeable improvement in power and acceleration. The tips of the plugs at 153K were burning thin.
It had 143K mi when I bought it, and 154K now. Sean's observation about power is on the mark. I understand that the 3.0L engine called Vulcan (cast iron block... Vulcan was the god of fire and iron, I think.) was made in Ohio and was used for years in various Ford products, including Taurus. Not a remarkable engine, but not a problematic one either from what I understand.
I have read that this vehicle was also marketed as a Mazda B3000. A good basic truck. I have no regrets about buying it. I would do it again.
Henry in North Georgia
