Reliable as long as it was maintained otherwise a nightmare and money pit. Surely by 150k plugs have been changed from the ridiculous 2 piece design but definitely check that. They can be a bear if the job is on you. Regular oil changes on the 3v are key. Listen for any out of the ordinary noises. The usual...
I bought a 200k 03 6 months ago and have been quite pleased with the purchase so they are definitely a reliable platform if cared for. Its cliche but I would not hesitate to take this thing from the midwest to California other than it's currently a fiery hell with the highest gas prices so it's still a bad idea.
Engine for obvious leaks, diy "fixes", all fluids for level and whether they've been changed. I had an owner who provided me a sheet of everything that's ever been done as well as the sevice records so I had some decent places to start. Checked to ensure everything on the list was in fact done it accounted for.
Oil pan, transmission, cooler lines, power steering, wheel hubs for play, bushings all around the vehicle. Any signs of off road abuse...bent or crushed things underneath. Test the 4wd if equipped in a suitable location...check rear diff and transfer case for leaks, electrical can be crazy in these at times if a fuse box has any issues. Test every single function...power and climate control for the seats, radio (fade/balance each speaker so you dont miss hearing one with issues, lights, ac/heat in all modes, especially if equipped w dual zone. There are 4 blend doors in the dash that make that all work. Rear ac has it's own blend doors as well in the back so be sure to check it out on floor and roof vents. If you hear clicking that usually indicates an issue.
Rust...core support, rockers, doors. Hood and lift gate are prone to corrosion and paint bubble/peeling due to being aluminum. Just a characteristic of the vehicle unfortunately. Check on the roof by the rails...sometimes they can rust through, dont want a surprise that like.
If anything has been modified like an aftermarket remote start, radio, etc, as long as wiring is accessible see if it's nice and tidy or a sloppy mess, good indicator of how careful they are and how much they care about the vehicle. The one I bought had all of the above at one point and due to having experience in the 12v industry while I was on a test drive I parked it for about 25min, removed panels from interior and steering column and inspected everything. Found some messy, but safe wiring, made sure everything on those circuits was fine and put it all back together. People driving by probably thought I was insane.
A lot of what you're looking for or may find is hinging on your mechanical aptitude. If you've been around a wrench a few times you'll probably be fine.