I have a 2 WHEEL DRIVE 2004 ford ranger edge 3.0L V6 and I am looking into a lift kit. Here are some questions I have:
1. IF I CAN GET A LIFT KIT, which type would be the best for me?
2. Will a small lift kit (1 to 3") affect stability in turns or have other safety issues?
3. Will I need new tires? (Not an expert on lift kits)
4. Will the lift kit affect gas mileage?
5. Will a small lift kit seriously make the truck look better?
6. How expensive(including labor) will installing the lift kit be (ballpark)

 

Since you did not get any answers, you have to assume most of us are not big fans of lifted trucks. I'll run through your list and address what I can. First if your vehicle is an EDGE, verify if it has a torsion bar front end like a 4x4. If so, the bars can be torsioned up to raise the front end without buying a front end kit; 2. Yes raising the vehicle will effect your stability in a negative manor any time you turn. The amount of effect is related to the degree of turn. 3. You don't need new tires, but will have to have the front end aligned after a lift. 4. Yes , a lift will effect your gas mileage in a negative way. The amount of the effect increases as the lift increases. 5. Only you can answer that, just depends on what you like best. 6. Expense should not be too much, couple of hours of labor plus an alignment. THe front torsion bars get adjusted up and the rear will need to get blocks added between the axle and the springs.

 

I don't get here as much as I'd like, and just saw this. Reading your truck description, I thought it was describing my Ranger!
Mine is a 5 speed manual, but that wouldn't make a difference regarding what you want to know.
Mine has been lifted just short of level, 2". No lift kit needed, you have torsion bars, just have them cranked to raise the front, and then get a realignment. The rear, I pretty much left alone, other than the addition of a Hellwig 500# helper spring. That was only to prevent any sagging once my winter weight is put in.
I noticed no difference in ride quality or handling. Fuel mileage is a bit iffy, if it affected that at all. My mileage has dropped about 1/2 mile per gallon, but then we're into the winter blend season since I've done this about 6 weeks ago.
There seems to be a bit of a rift on the best way to raise the rear. Myself, I'd go with either the springs, Add A Leaf, or blocks. You already have about a 1 1/2-2" one there. Do not stack them, just do a search for the size you eant. The kids are using lift shackles now, they're a cheaper way, not much, and I can never get an answer about the pinion angle being changed. When I was into the "muscle car era", shackles were a definite no-no. I don't know, maybe the laws of physics has changed, but I wouldn't recommend them.
Cost, less than 150-200 if you do it my way. I had mine done at the dealer, the mech, service manager, and a salesman are somewhat friends of mine, and they never charged me for the lift and alignment. The truck was in there for a couple other things anyway, plus they really like what I've done to the Ranger.
The looks, I prefer a lifted truck, just enough to be noticable but nothing wild. Body lifts are a huge turn off for me, no matter what may be said, I've never seen one that looked right to me.
Tires, I'm still running my stock size, 235/75/15. 31" tall tires are possibly in the future, but for now, I'm running the stock size. With the 4:10 gears in your/mine truck, that little 3.0 can handle that size just fine.
I'm on my wifes computer right now, or I'd post up some photos. When I get back to mine, I will.

 

Here ya go. This is with a 2" Tbar crank.

 

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