Edmunds review of '05 JGC
I know you asked about -04 JGC, but here are some comments re. the newly redesigned -05 JGC in case you are interested. Looks like they missed the mark again.
As far as reliability comparisons - there is none. You are comparing one the best vehicles in terms of reliability against one that has been consistently subpar. I have not driven the JGC since it is not even close to being on my short list, but here are some comments from Edmunds' review of the 2005 JGC
"At the same time, it doesn't quite feel like a car. The long-travel suspension that makes it so tough on 4x4 trails leads to a moderate amount of float and bob over bumps and freeway expansion joints. It's nothing you haven't already experienced if you own an older Grand Cherokee, but if you're accustomed to the smoothness of a car-based SUV, you may not like it. Moreover, we feel that even the body-on-frame 4Runner does a better job of ironing out these irregularities. Jeep is evidently aware of Toyota's mastery in this area and plans to offer something called Dynamic Handling System (DHS), which hydraulically adjusts the stabilizer bars to smooth out the ride and reduce body roll around turns. It sounds suspiciously like the Kinetic Dynamic Suspension System found on the Lexus GX 470; if you're interested, note that this option has been delayed until midyear.
"This reduction in ride height may prove to be a liability for Jeep, given that the current Toyota 4Runner and the 2005 Nissan Pathfinder offer similar levels of all-terrain prowess along with added clearance, 9.1 inches and 9.2 inches, respectively (although the JGC still has better approach/departure angles). They also offer hill ascent assist (prevents the vehicle from sliding back when the driver releases the brake) and descent assist technology (allows for a controlled pace on steep downhill grades). Purists may argue that the Grand Cherokee is better off without these "electronic nannies," but we contend that these systems can be a big help for novice off-roaders — and anyone who has ever gotten in a little over his head."
"Although the 2005 Grand Cherokee is not without its good points — among these, its Hemi V8, secure handling, excellent off-road ability and many convenience features — it doesn't offer the complete package that you expect of an all-new design. More importantly, it doesn't give buyers enough reasons to choose it over SUVs like the 4Runner and Pathfinder. Both of these import-brand competitors offer driving dynamics as good as or better than the Grand Cherokee's, and larger, better-furnished interiors that give family buyers the option of getting a third-row seat. They may not be able to duplicate the legendary feel of a Jeep on rough terrain, but with their extra ground clearance and standard hill ascent and descent technology, who's going to care?"
http://www.edmunds.com/new/2005/jee...03495&tid=edmunds.h..wkedmunds.roadtests.1g.*