I'll chime in as a P38 supporter. I love my P38 and it has been reliable and a pleasure to drive. I have kept up on all the maintenance and it hasn't given me any trouble and (knock on wood) it doesn't leak. There are a lot of P38 bashers out there and 10 years ago there were a lot of reasons to bash them...BECMs, EAS issues, HEVAC issues, leaking o-rings, airsprings/compressors, etc. There are a few modifications you can do to take most of your headaches off the table. To the horror of many owners on rangerovers.net, I will be converting from EAS air suspension to springs int he next few months. It comes down to reliability and the biggest crutch was the air suspension. If it blows, you are out of luck. (but for a car on the street, it drives like a dream and with simple maintenance, the eas is servicable and reliable) I just don't want to get stuck in the middle of Death Valley 100s of miles from pavement with a busted air spring.
That being said, I was originally going to buy a disco... until I drove a P38. The interior is so much nicer, in my opinion and I feel it is a nicer truck. Interior volume is about the same, actually a bit less when you consider the rake on the rear of the P38 while the disco is essentially vertical.
As far as engines... come on! They have the same 4.0/4.6 as the disco, so I don't know why it takes more heat in this category. The transfer case is different with four wheel traction control on the 1999 and newer P38s. The 04 has the locking diff, which the P38 does not have. But I have crawled up some trails with my P38 that amazed some.
Other electronic issues were the BECM or main body computer. Basically, all the interior/exterior electronic come to one main computer. In theory, a good idea because it eliminates a lot wiring and redundant system, but the early models were plagued with issues. I have not heard of the same issues with the later models (1999 and newer). Just be careful that you don go crossing 3 foot rivers with the doors open. The P38 actually has double sealed doors for excellent water control when compared with the disco.
There is definitely more aftermarket support for the discos with lots to choose from. Not so much with the P38, but the basics are out there. I have had to scour craigslist and ebay to find my goodies (axle guards, roof rack, winch tray, ladder, custom sliders, etc).
Drive both and see which truck calls to you.
Don't be afraid of the P38 with the wealth of knowledge on rangerovers.net to fix any issue that may come up. For every P38 issue, there is also a disco issue. Nowadays, you can get a compressor rebuild kit for $30 instead a new compressor for $1500. My P38 is easy to work on. Prices for parts are basically the same.
Only buy a newer (1999-2002) model though and get the 4.6. Bosch electronics, 4 wheel traction control and other electrical glitches fixed. More power for the same gas mileage. Most of my trips are with another P38 that is a 4.0 and I usually get better gas mileage.
It comes down to money when you consider an LR3. (they are asking WAY too much for that 04 disco by the way. you can find them for $8) The LR3 is a great vehicle and very capable in stock form or with a simple 2 inch electronic lift. Just throw some offroad tires on and you can go. But parts, maintenance and accessories are a lot more expensive. Figure out your total budget and what you want to do with the vehicle. If it is just for trips and trails, don't blow your load on the purchase price. Buy an older vehicle and modify it to be reliable and have all the goodies you want. My P38 is going to be just a trail rig within the next year, but I knew that when I purchased it. Spend your money on trips and gas, fridge, tent and things that will make your camping a better experience.
Some pics for you of our P38s in Moab and Death Valley:
and an LR3 at the same obstacle just for fun..
let the P38 bashing continue...
