I got a '08 rancher 4x4 420 EFI in March 2009, so I've had it exactly a year. I like it a lot, it has plenty of power and personally I don't want a quad where I can even pick up one end. Believe me it's hard enough with to lift the rear of a rancher out of the sticky mud. I paid $5100 for it, comes out to $127/month
Plus:
-It's a Honda
-with EFI it's totally turn key-no brainer to operate
-Mostly seems high quality
-it always brings me home
Con:
-It has 24s, I think 25s would be appropriate but I don't think it would spin all 4 with authority any bigger than 25s.
-It shifts kind "clunky"
-4wd is shift on the crawl not on the fly
-it could use a diff. lock