Body hardware - specifically the locking mechanisms in the doors. (See below for greater detail).
Replaced shocks (routine maintenance) @ 95,000 miles.
Alternator was replaced at 85,000 before I bought it.
Heater/AC control wouldn't switch blower to any position besides floor vent even though control could be moved.
Dash light bulb behind speedometer went out.
Reviews are correct about brakes being sub-par. They haven't failed or anything though. I'm usually depressing the pedal for about a second before the power-assist braking kicks in. I had to have the rotors turned even though pads were not even worn through - perhaps that was from the previous owner though.
For those who like SUVs that ride like a truck - before they started making them feel like cars - this may be your vehicle. Isuzu changed the Rodeo after 97 into a less impressive off-road machine, but with a more comfortable city ride.
A lot of wind and road noise on the highway.
I don't like the low mounted stereo - it's hard to reach. (they moved it up with a dash re-styling in mid 1995) - look for the 1995 1/2 or later models for a nicer dash arrangement (similar to a 1998 4-runner dash).
Although I've only had the car for about 8000 miles, it is obvious that the body hardware lacks integrity. I've had to replace a plastic piece of the door locking mechanism in 3 of the 4 doors. Additionally, I've had to overhaul the locking mechanism in the tailgate.
I usually get about 15 miles per gallon with about 60% of the miles in city driving.
The seating is not very comfortable - not much padding.
I love the car when it snows and it is very fun to take up in the hills or out in the dirt. The 4WD has good gear ratios - it gets pretty low in 4 low. No shift on the fly doesn't bother me. My parents had a car that shifted on the fly and they always had problems getting it to lock in 4-wheel. This car locks in everytime and I've had no problem with unlocking the auto hubs by backing up a few feet.