You buying new or 2nd hand? Want a diesel or petrol, manual or auto? The auto's in each model have ascent/descent control which might be a deciding factor?
If you're buying new, I'm not sure how they go. Second hand however, I have a little experience.
My dad has had an '04 Prado 3.0TD GX Manual for about 3 years and while it's quite comfortable around town and works great in the desert/beach, it's not so good when it starts getting tough. Even when lifted, it has about 15mm less ground clearance than my '92 4Runner. It gets around 11.5l/100km combined and down to around 9.5l/100km on the highway. He's had to replace the suspension as the shocks weren't very suitable for off road as well as the bash plates due to them being belted up to the drive shaft (mostly from the previous owner - ex-DSE vehicle). Power from the engine is fine and is great on the highway, however there is a relatively large amount of turbo lag. Apparently the newer models have improved in this respect.
A mate at work has a Pajero ('06 I think) and he's been happy enough with it to buy it out after his lease finished. He's taken it on a trip across Australia from east to west and back towing a camper trailer and said it handled it beautifully. He used to have an older Patrol but upgraded with family commitments.
My next car will probably be the Mitsubishi Challenger since it's a touch smaller than the Pajero and would do everything I want. I was also pleasantly surprised after spending some time in a Triton ute which the Challenger is based on. The Mitsubishi's also come with a pretty good warranty which might be something to consider, especially if new.
Honestly, I reckon either of the cars would be good, reliable vehicles but obviously test drive them both first. I'm interested to hear your opinion of which ever one, if either, you buy.
EDIT: You're probably already aware of this but the
car comparison at Carsales.com.au is pretty good for 2nd hand vehicles.
