This is the 3rd Liberty Limited I have owned; the first being a new 2004, and the second being a used 2005.
I have also owned 3 Wranglers, and my wife owned a 1998 Cherokee.
I intentionally looked for a 2007 model, as I prefer the original design & body style over the Nitro based 2008 and up models.
This one is "midnight blue" with gray leather interior, and is equipped with the navigation system radio and 6 disc changer in the rear (the navigation system is easy to use, and easy to read).
Also has Selec-Trac 4WD, which can be left engaged on dry surfaces.
Plenty of power from the 3.7 liter V6 - so-so fuel mileage as with all Liberties (not great, not terrible); 16-17 around town, 18 or so in mixed driving, low 20's on the highway. Typical of SUVs of it's size & weight. Thankfully it only requires regular gasoline.
The Selec-trac 4WD system is a fantastic system, and is great for New England's winters.
The Liberty is made to go where other "cute-utes" can only wish to go, with typical Jeep ruggedness and a feeling of solidity you just don't get in many other compact SUVs. Well designed interior, plenty of room for 5, good cargo room behind the rear seats, nice touches such as the grocery bag hooks in the cargo compartment, and has an amazing Infinity sound system. Great heat/ice cold air conditioner. The Limited comes well-equipped, and is attractive inside & out. In my opinion, for the original MSR, you just can't beat the value.
When I had my 2004 Liberty, I took a stone through the windshield, and in the process of replacing the windshield, an inexperienced employee of the glass company (a major well-known company) damaged the windshield frame, and it required repainting & repair. While in the body shop, the rental company gave me a Honda CR-V to use. Compared to the Liberty, the CR-V felt like an underpowered tin can, and I couldn't wait to get out of that vehicle and back into my Liberty. Since that time, I've owned either Wranglers or Liberties. Having a family the Liberty is the perfect SUV for me. Again, I prefer the 2002-2007 body styles over the Dodge Nitro based 2008 & up models.
As far as reliability goes, I've never had a problem with my Libertys, or any of my Jeeps (other than normal wear & tear) for that matter. I've owned my 2007 for nearly 8 months now, and will update from time to time.
As for off-road ability - if you can't get there in a Liberty or a Wrangler, chances are you can't get there.
I've been very satisfied with my Libertys as well as my Wranglers, as well as my wife's old Cherokee, and despite the bad rap that some give Chrysler, I also own a Sebring Convertible that has been a delight to own & drive.
As for SUV's over the years (besides the Jeeps) we have owned an '87 Pathfinder (not bad, but not engineered like a Jeep), a '99 Lexus RX300 (very nice design, gorgeous interior, way too wide turning radius, and very unreliable over 100k), and a '06 Saab 9-7x (which my wife currently owns). Personally I prefer driving the Liberty; although the 9-7x is a very nice SUV, it's not made for serious off-road use, but is great at handling New England winters (albeit very thirsty).
In summary - All-in-all, I prefer a Jeep, and the Liberty fits my needs perfectly.