I bought my 1994 JGC Laredo 4x4 with 136,000 miles on it for $8K 2 1/2 years ago. Since then, I've put on an additional 63,000 miles on it and will be turning over 200,000 when we take it to Colorado and tour the big hills next week.
Don't know anything about the history before we got it, but it looks like it was used by someone in sales (remnants of a built in cell phone still exist).
Only thing I've done to it is replace the exhaust manifold - which I did myself on a VERY hot day last Summer. There's some pushrod tapping, and some oil blow by, but not a lot. It's hard to get into 4x4 LO, and it doesn't like to come out of 4x4 HI unless you stop, run through the gears, and let it go when it wants to (but I've heard this is pretty common anyway).
My friend with an xTerra (with less time off road than my 2002 Saturn SL) said he's never heard of Jeeps with such high mileage. I want to prove him wrong.
HA! Got you all beat! 1993 Grand Cherokee Limited 4.0 with 18,900 miles and yes you read that correctly and no it's not on a rebuild, got it from a couple of old folks who did quite a number to it scrapeing their red cadilac against it a few times and that wonderful ever reliable paint/primer problem that most auto makers had back in the late 80s and early 90s, makes it look like it has well over 100,000 miles on her, but the inside is clean and the engine is clean.