The power is good. The best powerplant choice in a Ranger to date as far as power.
There have been some issues with the infotainment center, mainly the larger screen system.
There has been an issue with some people having problems with water leaking from the cowel into the engine compartment, causing corrosion issues with the spark plugs. If you check them every so often, it seems to mitgate the issue, if the truck has it.
The elephant in the room is the transmission. It seems you either have a good one or you don't. The maintenance interval in the owner's manual is waaaay to long. Go with 60,000 miles for a fluid and filter change at a minimum. 30,000 would be better. If you do the work yourself, you will need a fluid pump to refill the transmission. The cap, dip stick, and fill port are conveniently right next to the flex pipe in the exhaust. So you will need a glove to check the fluid level after the transmission has reached operating temperature. I don't recall many here reporting an issue with their transmission but there has been some pretty bad reports on people with Fords and GM vehicles having issues.
In general, the truck has been good for me overall with some minor gripes about there being too much interdependency of the electronic systems. One goes down, it could take down others. And the small window to the rear can be a visibility problem.
As far as the Tacoma, I can't speak about the new ones but I do recall there being some gripes with them as well. The speed control for off road is not as good as the Ranger. Some hate the seats and low A pillar. The last is mostly from tall people. I recall that the power isn't as good but not horrible. Never owning one or driving one, I can't give anything more than that. It is a popular truck with the off road crowd and there is a lot of aftermarket support for the truck as a result.
Obviously, we would like to steer you to the Ford product for various reasons. If you can get one with a good transmission and keep up with it, you should be good.