If possible, get one with the HD package. I have a CPO 2005 V8 SE w/HD and it out performs my old 2003 Disco II w/CDL on everything except ground clearance.
I have not run into any problems with mine that have not been solved by warrenty. I have had mine for 3.5 months and bought it with 18,000 miles and now have 31,000. (yes, I drive a lot)
Bad things:
1. Fuel line broke lose just below engine block. (dumped 10 gallons of fuel on my driveway)
2. Steering wheel melted (common problem that LR will replace on warrenty if this happens)
3. Replace factory battery ASAP (see other thread "battery exploded")
4. Air suspension compressor stopped working (warrenty replaced)
5. Sunroof stopped working (again warrenty)
6. Rattle coming from rear seat area that I have not pin pointed yet.
7. Air Bag restraint system light came on (warrenty, code reset and was told it was caused by driving with the battery removed)
8. Center cover on Steering wheel loses shape after extreme heat. I have seen this on many around here. You may not even notice. (I am just very picky)
9. Needs front-end alignment every 5,000 miles. (75% off my miles are off-road) I would not expect this if you drive it like the adverage person, to me its a just work truck that gets put through hell.
10. Radio, at random changes from stereo to mono with left and right tweeters cutting off whenever they want to. (no big deal plan on replaceing the factory HK "POS" anyway)
11. While the paint holds up very well, the flat black around the windows and the side mirrors gets scratched very easy when driving through trees and brush. I keep "Lemon Pledge" on them, it works better then "Back to Black"
12. You need to plan on adding skid plates. (especially around the front lower radiator and the transfer case, they get hammered off-road) Rasta4x4 is the only option for now that I know of, but it won't be long and you will start seeing a explosion of aftermarket parts.
13. Problem with the sunroof drains. (I have not experianced it, but have heard of it happening a lot)
14. Gas filler and cap problems. (again I have not experianced it, but have heard of it happening a lot)
15. Factory brake pads don't last for shit.
16. Bad location for Downhill Control button, I am always dropping crap on it and turning on when I don't want it on.
This may seam like a lot of issues for just 3.5 months, but it is a lot less then my old Disco II.
Good things:
Best feature is that you no longer have to come to a stop to change from 4-high to 4-low. (many times I start over an section of trail and realize that I need 4-low, I don't lose any momentum to change over and when I change back I don't have to stop) If you had the CDL in your last one, it is the same way, it will take over with the Terrain Response without you haveing to stop. If you get the HD package the lockers will electronicly lock to positive as needed, all you do is drive it does the rest.
After you get one, every day you will find something about it that you like much more then the Disco II.