I've always been a fan of Rancheros because I dislike 4 door cars and have never really found a reason to have a people hauler for my daily driver. I have had reason to load cargo and tow a trailer though. I'm a big fan of the Falcon Utes especially since you can order them with a 351C up until a few years ago.
I have two Rangers; a summer Ranger and a winter or work Ranger. They have two very distinct characteristics.
The summer Ranger is a 4x2, 2.3L, 5sp, stepside with a normal cab and averages 30 mpg on my daily 140 mile commute.
The winter Ranger is a 4x4, 4.0L, 5sp, stepside supercab that I tow everything from cars to moving and stock trailers with. It's a 4x4 so during the winter I drive it and leave the "little" Ranger at home.
They both do DD depending upon the season. IF they were to bring in the Falcon, I could see it as a replacement for the little Ranger. If it could get the 30mpg average that I enjoy now and came with AWD, it could very nicely replace that truck.
BUT I can't see it replacing the 4x4 Ranger for all of the off-pavement and towing capabilities. FORD is wrong in saying that the utility drivers of Rangers will migrate to the 1/2 tons. When I can drive my 4x4 and get 20-21 mpg relatively empty and throw a 6500 lb trailer on and still get 15.9 on the highway, why would I want a truck that gets worse mileage, is less manueverable, bigger and more costly to maintain? I've probably towed and hauled more with the Ranger than 70% of the 1/2 tons out on the road today.
The reason I like the Ranger is because of it's size and the ability of it to transform into what you need it to be. It's a mini-pickup. I had a Dakota and it was nice, but for my money, I should be able to find used Rangers for as long as I want a truck. Ford doesn't have to downsize it to give folks what they want. They don't need to upsize it and it doesn't need a V8. One last thing .. I like the idea that it hasn't been drastically changed over the years. I like the non-modern interior where everything isn't push button. I like being able to work on a truck when needed and when you grab the gear shift or the door or the tailgate you don't have to wonder if there's steel there.