I'd suggest sitting down with paper and calculator and working through exactly what you want and the various costs involved. Your new 130 might be claimable on tax, but it still costs real money to you (and the FBT rates are not as attractive now). 90% of your ute function can be had for $500 with a used trailer. How much low range and how technical? How wedded to Land Rover are you? Your choices above run to some high-running-cost vehicles, while getting a new non-LR fourby might get you a decent mix of on-road comfort and adequate off-road capability. For example a Suzuki Jimny is pretty decent off-road and the running costs over a 4.6 would be huge. But highway comfort might be a different question. So one option not yet listed is some less capable but comfortable lower cost new 4wd. One example might be a Suzuki Vitara.
Before looking at a P38 I would consider putting toys on the 92 and still driving it daily. Sure you'll need to replace bits due to wear but how many Puma warranty repair threads are there? In my estimation the cost of keeping an older vehicle on the road is usually comparable to the depreciation cost (and finance interest) on a new vehicle.
Steve
2003 Discovery 2a
In better care:
1992 Defender
1963 Series IIa Ambulance
1977 Series III Ex-Army
1988 County V8
1981 V8 Series 3 "Stage 1"
REMLR No. 215
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