I have had friends with the GM 2.2 that went for a while with no problems. While I never heard about the timing chain from either of them, both of their trucks did not have that kind of mileage. My one friend had a manual single cab sonoma that he got rid of at about 60k because the truck was just constantly full of problems, though not many engine related.
2 other friends of mine had identical rangers, well one was a mazda the other a ranger. One black one white. The one got wrecked at 213k but ran like a top with no maintance what so ever. Literally, his dad didnt change the oil in it ever. It once went for a year with no oil change and it still ran. It got about 18mpg and was slow as a dog. My other friends is still going with over 250k on it. Still slow as crap also but it works. Honestly for what its worth I would just get a 4.3L with a manual. The ranger V6 isnt too powerful either but if your going to be getting that kind of stinky gas mileage, might as well have the 6 and get a little more power and actually be enjoyable to drive.
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Exploration Machine- 02' CC V8 swap. 300K+
Portable Roller Coaster- 07' MKV VW GTI
Its another Jeep- 98 TJ