We just had one as a demo at my work last week. It was a S/C 4x4 with the 6.5 box. It was parked next to my F-150, and although it was smaller, it is much larger than the past Ranger and is indeed similar to a Dakota or the current Colorado.
I liked the way it drove; it was definitely peppy with the 2.3L Ecoboost and it felt very solid with predictable, easy steering. It also braked very well, smooth and confident. It seemed like it needed to be revved quite high to get any good power out of it, however, and I found the engine to be quite noisy, especially outside of the truck. I feel that could use some refining; it should be smooth and quiet like Honda engines are.
The back seat was pretty much useless so the CC would be a must.
Ford is pretty proud of them right now, with very few rebates. We can actually still buy a F-150 for around the same money, but that will change after they have been out for a while.
We will be buying several of them so it will be interesting to see how they hold up.