Have to agree with these blokes. Nothing wrong with the 2.8. They're a great motor and I'd go as far as calling it the baby 4.2. I hold it above the 2000-2004 3ltr, most definitely.
They're a slow poke on the road but it's to be expected when the little engine that could is pulling 2 tonne of car. In the bush though, it's a weapon. My 2.8 went everywhere the 4.2's did and also the 3ltr's and even the V8's. You can only go so far up a rocky hill
I only bought a 4.2td because I wanted to on road performance and towing power for the future. I personally wouldn't tow caravan with a 2.8 because I'd pull my hair out in how slow it'd be, but that's me. I'm not into towing caravans at 150km/h but I like to be able to take off on a hill before the lights turn red again!
I really need to clean the old 2.8 up to sell it. Might even take it for a spin now! OH, and BTW.. the 2.8 turbo diesel sound fricken awesome! Sounds better than the 3ltr and 4.2 IMO. THe exhaust sound is just awesome. Loved driving in the bush with all 4 windows down so I could listen to it. Music to my ears!