Faults:
The car had a leak in the power steering lines - nothing a new hose didn't fix.
Also, the wiring under the hood is a bit dodgy eg. the engine sometimes won't turn off if the headlights are still on (at least I won't forget to turn off my headlights and get a flat battery!) and fuses keep blowing, even though I replaced all the wiring behind the dash.
The T-Bar Auto shift doesn't quite line up with the numbers on the plate in the centre console - all the positions are there, but it can be hard to locate certain positions and even harder to describe it to people when I lend the ute to them.
Recently, the diff has been showing signs of wear, which will probably need replacing soon.
For a while I had trouble opening the doors (and went through several door handles) until I aligned the doors better. They now open up with less effort, but are still not aligned properly - despite my best efforts.
The paint, while not terrible, has its share of scrapes, scratches and is in places peeling off. Being a good straight body however, with no dents and very minimal rust, makes it ready for a respray when funds permit.
I have found out that the spare wheel compartment is not designed to accommodate 235 tyres as jamming one in there has eventually caused it to drop down and almost fall off.
General Comments:
I am very happy with my ute. I've owned it for almost 6 months and have not experienced any trouble with it regarding reliability. It'll start 1st time every day.
The 4.1 engine has all the power you need - I considered putting a 302 V8 in it, but I couldn't justify the need to improve on the 6 cylinders' sufficient performance. It's no high-powered performance car, but the power, acceleration and kickdown is there when you need it.
The fuel economy is excellent. My ute has a reconditioned 4.1 carb out of an XF and so runs on unleaded fuel. A lot of old carby Falcons of similar age to mine are rough and shaky, but mine has been finely tuned to run as smooth as silk - as smooth as my Dad's 4.0 efi EB Falcon.
My ute looks very classy with a ZJ Fairlane nose, and since I've had it I have installed electric windows, electric mirrors and electric seats to add a bit more comfort to my daily driver.
It had already been converted to a 2-seater from a bench seat before I got it, which is great with the comfort of the Fairlane buckets, but it can be inconvenient if more than 1 passenger wants to travel in the ute.
There is plenty of room in the back for carrying big loads, but for security, I have bolted in a large toolbox in the back which takes up a lot of space, reducing the carrying capacity, but is necessary to bring my tools with me.