I disagree. For the money you won't.
If we're talking building both to their potential using stock style suspension, yes, the Ranger is going to most likely hand you your ass. It's IFS, that's where the XJ falls behind. With that being said, if your buddy put the same amount of $$ into his suspension as I have my XJ, I'd probably give him a pretty good run for his money, and most likely walk him. XJ's are cheap to build.
Also, look at the times between the 1450 class and the 1700 class. The times are pretty damn close between the two, 1450 class is stock style suspension btw, leaf spring, etc.
I've surprised quite a few rangers, but you won't get any of the ranger guys to really admit that.
With that being said, if I were going to build something, and money wasn't an issue, it wouldn't be an XJ. I'd build a standard cab short bed f150, linked and beamed and call it a day.
Gonna have to call you out on this one Jim. Rich is right. The Ranger will blow an XJ away in the desert. Is the XJ a better all arounder, absolutely. Can it do pretty decent, yes, you have seen mine, yours, andy's and craigs all hold their own. However, that is not going to compete well with an Ranger.
The guys that race the Class 9 I chase for, the driver has a Ford Ranger, 4 banger, on 31s.... entry level camburg LT kit , Fox 2.0 coilover, a set of deavers in the rear, and a fox 2.0 resi. The front includes radius arms and beams and it spanks the living crap out of a ton of stuff... he has walked away from his brother in a bronco with a Camburg LT kit....
So, lets look at costs:
Ranger:
Camburg LT kit ($2000 regular price, but subtract $500 for not including coils and shocks)
total: $1500
Fox 2.0 Colover: $800
Total: Approx $2300
Rear is negligeable because leafs and shocks are going to be similar cost for a ranger and a xj.
XJ:
Deaver Coils: $250
Upper and Lower Contral Arms: $500 (Short Arms assuming)
Drop Brackets: $250
Heavy Duty Track Bar: $250
Unibody Plating $200
Shocks: $500 (Assuming a 2.0 resi)
Axle bracing (You can choose to not do this, but I think you know what happens to the D30 if you do not): $200
Total: $2150
For $250 difference in the Ranger, you will have 12-14" of usable travel in the front, in the XJ, 10" at best.
In the rear, that same deaver leaf pack, and 2.0 shock in the ranger will pul 12-14" iof you stay under the bed, or $16 if you can put in a bedcage, the cheroke 10-12" max..... (unless you go spring under, et etc etc, at which point, I would spend more on the ranger, and therefore up the ante....)
Enough said....????
So, sum it up:
Dezert: Ranger all day long, the unibody doesnt do well
All around use: Hands down the XJ, rocks, light whoops, etc etc etc