I took one out for a test drive, the 4.7 V8 is pretty ballsy in the 1/2 ton, sounds kinda throaty!!! The trans works well with that engine, good solid shifts(for an automatic, that is!) , I'm not sure about the towing with that setup, though. It also has rack & pinion steering, and IFS in the front end now(NO MORE Dana axles- Bummer, but I guess they had to yuppify 'em like the other guys) but I'm a 3/4 or 1 ton guy anyway-gotta have that Cummins. The handling is awesome for a pickup, it reacts quickly without a lot of over or under steer feels like it has a low center of gravity. 4 wheel disc brakes with dual piston calipers were also a much neede improvement, the old brakes were marginal. The engine/trans should be pretty reliable, it's been in the Grand Cherokee for 4-5 years. Interior is also pretty sweet, movable pedals and all that jazz, and I really like the black on white gauges. I liked it enough to consider getting a 2003 in the HD(3/4 -1ton) when they come out later in the summer, but I hate giving up ol' stinky (My '95 Cummins 4x4) but I'm pulling 21,300 GCWR-waaaaaay over the rating for that truck, but well within the new truck's tow rating. I must inform you, however, that I am biased, the wife works at a Dodge dealer, so my opinion MIGHT be somewhat slanted, but I am seeing a lot of the 2002's on the road, I believe that they are even better than the old trucks.
for more info, check out
http://www.turbodieselregister.com (mostly for diesels, but lots of other info also)
Hope I helped,