Yeah, I drove a Colorado last year during GM's Employee Discount period. Was not impressed. The seats looked like they were upholstered with a 1985 Corolla pattern, and a lot of the trim looked and felt like it would break shortly after driving it off the lot.
FWIW my beater is a '95 Ranger 4 cyl/5 spd/Reg Cab/long bed with about 130K. Runs like a top (a very slow top :P ). Might pick up a new Ranger when Ford introduces the new version and has to give the leftovers away.