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I've got an '88. Kept track of the mpg for a couple of years - 10K miles - and averaged 26.5. That's with most of my trips having sections of rough dirt going up mountains, and often carrying loads of logs for firewood, etc.
I've had no problems at all with it: it often sits for a month or two yet starts right up. Can't speak to the rust problems: there's very little road salt around here, so most cars don't rust at all.
The one thing I would say is that it's overkill unless you're going to be hauling or driving rough dirt. It's not by my standards (which come from a lot of sports cars) a very good highway vehicle, as the steering's too sloppy and the cg too high for my comfort. But off-highway, if you put the transfer case in low range, it'll go just about anywhere, and with a load on too.
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