If you dont want to go older than 93, get a 93-97 Ranger. 98+ they go to torsion bar front suspension, which sucks balls.
Personally, I like the 83-92 models, because there are a like 30 of them in every single wrecker around, and I love the older, big ass mirrors.
The 4.0 is a nice engine, for sure. Plenty of power for a little Ranger... If you are concerned about fuel economy, finding a 3.0 might be better, but that engine gets mixed reviews around here... Everyone loves their 4.0s (except the guys running v8s)
If you plan to use it for offroading, I would stay away from the 2.3l otherwise you will need to find some super low (like 5.13) gears to make it turn bigger tires. Otherwise, lots of people with 2wd trucks love their 4-banger engines.
edit - if you want to be towing a race car on a trailer, You are going to want that 4.0