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I'm seriously thinking about buying this truck.  The one I'm looking at is a 4x4 3.0 L 5 speed ext. cab.  It has 186,000 km on it.  Would appreciate any feedback you can give me regarding pros and cons.  

First off does the owner have the maintance history on the truck? Hopefully the clutch has been changed already. Also Ford had some problems with the early 3.0's. When I was looking for a truck I found a few I liked but had 3.0 engines in them and got away from them. I ended up with a 99 Ranger 4X4 with a 4.0  

May also want to consider having it brought to a garage for a quick checkup. Tell the owner you'll pay for it.  

I work at A ford dealership I would very VERY much try and stay away from the 3.0L, Go with a 4.0l SOHC much more reliable not as many problems with them. Also check the Clutch or ask if it has recently been replaced(recently is within 10,000) and with 186,000 I would very much recommend that make sure there is no MAJOR belt wear and that there is no ticking like a lifter tick, the 3.0l were very well know for the tick which led to a more serious vavle problem. But pros are very good truck If you have a good motor run forever but I would recommend a 4.0L  

It will be underpowered, especially in a 4wd.  

I agree with Fordguy. I have a 2001 Ranger with the 3.0 and NOT 4x4. Check the power to weight ratio for that truck and you'll see the 3.0 is way too small for that truck. The 4.0 is much better.