Owned a year 2000 3.2 DiD exceed version and I wouldnt say that the fuel consumption was above 10km/l. Within Colombo a rough average would be about 7km/l and outstation you would get to the 10 mark if you dont push it too hard. The engine performance is superb though its a bit loud. Gets to 150km/h on baseline with no fuss. Would say the 4M41 would give way less problems than the previous 4M40 engines that came in the 95-99 Pajero's. But then again its how you maintain them. Even though this was a domestic model with all the options available the comfort wasnt that great. Technically nothing went wrong with this during our use of about 4 years and had about 125k on the clock.
Pros: Above average performance for a diesel, good braking capabilities thanks to ABS and EBD, excellent handling all around and wont give that swaying effect, good fuel consumption
Cons: would have expected more comfort out of a domestic version, prefers fully synthetic engine oil to keep the engine quiet(plus a major performance drop if the service is overdue)
Moving on to a 2007 brand new version with a 4M40 - The biggest change is the the new ones dont have the intercooler and its just a turbo diesel. The engine noise on this model was comparatively low compared to the 3.2 both outside and inside of the vehicle. Fuel consumption is very decent even within Colombo averaging about 8km/l. Havent checked the figures outstation but im sure this will do better than the 3.2 version. Performance is low but switch it to tiptronic and you will see a good difference. Handling again is good plus the little faults in the earlier 2000 models have been fixed quite well on this. The cabin is quieter, the seats are designed in a much nicer way that makes this model comfortable than the previous one. This has 50k on the clock and the usual Pajero rattles havent yet started on this. No technical issues to complain about either but keep in mind its quite new.
If your looking for high end performance out of a SUV I would advice you to stick to a 3.2 version if you can afford it. This was one heck of a jeep