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Well, my Ranger has a 5,250 lb. tow rating. If it wasn't an FX4, that rating would be higher. This is almost exactly what the Dakota's tow rating is. But I'm getting 17 mpg mixed driving and 19-20 on the interstate. NO Dodge V8 is even going to touch that. So I'm able to do anything with the Ranger that you can do with a Dakota...and I save lots of money at the fuel station. I'm still not seeing why the Ranger needs a V8 here....
I have had them both and can say that the 97 Dakota V8 (318) 4wd X-Cab is a great truck. The power difference between the Dakota and my 88 Ranger X-Cab (2.9) 4wd is immense. The Dakota sucks up the gas (16 MPG highway). The torque is unbelieveable and it is a comfortable cruiser at 75-90. I love the Ranger more because I like the smaller truck feel. I have spoken with prior Ranger owners who have converted to the Dakota because they wanted a larger truck but not a full size. Their options were a Dakota or a T100 and that truck was not made for towing. They are quite happy and they would gladly drive the Dodge over the Chevy Colorado (5cyl?)
I think the main issue is that the Dakota and the Ranger are not the same size truck. There seems to be a standard as to what size a full-size pickup is amongst the big 3, but not a mid-size. Toyota doesn't conform to this standard. That's probably why Ford won't put a V8 in the Ranger. As I see it these are the real class sizes for pickups:
Full size-Ford, Dodge, and GM 1/2-1 ton trucks (although the 3/4+ ton trucks have more interior room) and the new Nissan Titan.
Near full size-Toyota Tundra
Large mid-size truck-Dodge Dakota
Mid-size-Ford Ranger and Chevy S-10
Compact-Toyota Tacoma
I'm sure I left out a few but I'm sure you get the point I'm trying to make. If you want more power Ford expects you to upgrade to the F150.
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.