I traded in my 2001 Ford Explorer Sport Trac for the GTO. Check out its first years TSBs - 154. Not to mention a couple of recalls. And, while a new model, it was totally based upon the 2 door Explorer. So, it certainly was not entirely new.
Granted, this is a Ford. My first, and probably my last. Ford is suffering through many quality issues right now. So, maybe this is not a fair comparison.
But from what I have seen, the 2004 model seems fairly reliable to me. I did have a leak in my trunk. They need to fire that damn robot. But, other than that, the GTO has been very reliable.