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If you lift or lower the truck, you should swap out the 2 piece for a 1 piece prop shaft, otherwise it's fine. The only real problem with the Ranger 2 piece drive shaft is that it is really difficult to balance. I know one driveshaft shop in Colorado that refuses to balance them. The good news is that if you replace the center bearing or the u-joints you don't need to rebalance.
Thanks for your input. This sight is awesome to have and really helps to learn more about what makes troubleshooting a vehicle so much fun. My truck truck is lifted 4 inches so I will install my one piece drive shaft. Does this free up some horsepower as well?