I bought an '07 in '10 with 29k miles on it. Had the water pump, front hub and fuel sender replaced under warranty. The basic foundation of these trucks are very durable and of high quality (argue over the 4L60E but no worse than most transmissions). The engine is a masterpiece of simplicity and smoothness.
Things known to fail going into the 100k mile range:
Fan clutch
EVAP solenoid(s)
Fuel sending unit
Front hubs
Throttle body gets coated in goo and causes rough idle.
Ignition switch (I'm on my 4th one and keep one in the glovebox, seriously)
A failing ignition switch will cause all sorts of odd problems. No crank, missing air vent fan speeds, abs light, etc.
Motor mounts. They are fluid filled and when one busts you'll get a nasty vibration.
Dropping gas mileage for various and sometimes unknown reasons.
Potential oil usage.
At 149k it started drinking oil. 2,000 miles into an oil change it was 3 quarts low and spun a bearing. I ran PP 5W30 since 29k. No leaks, no smoke. Oil use is not common, but not rare either for the 4.2.
I replaced the engine and my daughter is driving the truck now. It drives like a new vehicle. Tight, quiet, smooth. Knock on wood!
She short trips it to school and it gets horrible mileage, probably in the 10 mpg range.
I've been casually looking for another, but will not buy a 4wd due to the oil pan/front axle thing. I'd hate to have dealt with that during the engine swap and the ones I'm seeing for sale don't have a lot of life left in them, at least not that I'd bet on.