My name is XXXXX XXXXX X am a Land Rover tech, What I can tell you is that you have purchased an awesome off road vehicle. As far as reliability goes as long as some oil leaks don`t bother you your ok. There are a couple weak points to watch for and they would be the ABS modulator faulting out due to the shuttle valves inside but a kit is available for this so the entire module does not have to be replaced, an indication of this would be the traction control, anti lock and downhill decent lights will come on.this does happen the regular brakes will operate fine just without the anti lock feature. Keep the oil changed. With that said I myself am looking for a series ll also to buy, so they can`t be too bad, I have been with Land Rover for 6 years now and prefer to the series ll over the new LR3 or Range Rover. In my opinion it is much more reliable.
If you have any more questions let me know,