My first Ford was a Ranger as well. A 1994 regular cab short bed, 4x4 with the 4.0L and 5spd. I got it a month before I turned 17 and I still have it today (I'm 26). That Ranger is the reason I prefer Ford vehicles because of its reliablitly and durability. It's been through mud fields in WI, winters in Upper Michigan, water over 2' deep, speeds over 100mph. I've even jumped it a few times. I've always thought it was the perfect vehicle to be very good at everything (handling, ride, performance, MPG, off road, towing) for a single guy. So far, it has gotten me through high school, college, and the start of my career. Only major problems were a transmission failure around 100k and I've broken two rear driveshafts (3.27 gears, 31" tires and burnouts take there toll after awhile).
2.5 years ago I got a 93 F150 for a winter daily driver, to keep the salt off my Ranger. Today it's sitting in my garage next to my 07 Mustang GT and gf's 04 Mazda 6...though only until winter is over. I don't know if I'll ever sell it, but I hope your (new to you) Ranger can bring the same kind of memories mine has!!