I haven't noticed any ill effects from mine, it rides about the same and might have a tad more body roll than before. It it didn't exactly handle like a sports car or ride like a Cadillac before though.
I had to cut the bottom out of the fan shroud since on the older trucks you don't get radiator relocation brackets. I took the fan and shroud off before I lifted it, modified the shroud and put both back on afterwards. I had concerns of overheating, still runs 190 degrees on the nose. I also loosened the rad hoses and readjusted them to fit the new angle as the radiator went up and the engine stayed the same.
I remounted the parking brake bracket higher on the frame, it is on the drivers side. Unbolt from the frame before you lift. The frame is made of some pretty good stuff, have a good drill, bit and a wall handy. You will need the wall to brace yourself against.
You don't get bumper relocation brackets for the older (first gen) trucks, you will either need to make your own (I did) or live with the goofy looking low bumpers.
I used the steering extension provided, still works ok. Some don't use it, but since I paid for it I put it in from the start.
They make a manual transmission shifter extension, it is sold seperatly and I didn't get it, I have an automatic. If it is second hand it may or may not be included, and you may or may not need it. I didn't need to do any adjusting to the stock floor shifter.
They do not make a extension for the manual transfer case, I used a shaft from a old starter (same DIA as stock shifter) and welded a small piece of pipe with a tapped hole to it, used a bolt as a setscrew to clamp it in place. I painted it black and put the stock knob back on it and it looks 100% stock. With the stock setup the knob was sunk down in the boot and didn't work. Some have to do some trimming to get 4low to work, I didn't.
I made spashguards for the inner fenders using a old tractor innertube and filled in the new space between the inner fender and frame, I just pop rivoted it in to the plastic inner fender. My truck sees a fair amount of mud in the summer and the salt in winter, and I really didn't want all that crud coming in to my engine compartment that way.
That is all I can think of right now that was a issue when I put mine on my Ranger two years ago and that I have heard brought up over time, I have never been around a BII so I couldn't tell you what would be different. Bodylifts can be a easy, cheap way to lift, or a long painful process if you are picky and do all the little stuff I have (bumper brackets, t-case shifter, splash guards...)