I think the most common things to fail is the cruise control servo, and the cross over valve. If the cruise control works, then you're ok for now. The fuel cross over valve recall expired on 12-31-01. but not all 93's needed it. If it does need it, hope that the cross over valve fixes it the first time. I was able to make the recall in time, the cross over valve didn't fix my problem so Ford replaced both fuel pumps with the recall.... saved me about 350.00 each just for the parts. The paint is not clear coat and I think most do have paint problems. The trans is upgraded like mention before. Not sure what kinda probs they gave, but the previous owner of my truck replaced the trans in 97....I saw the receipt. Check the oil for metal sparkles/flakes on the dipstick. Also check the oil when its cold, if it has a gummy/sticky feel, they may have added that thick "stop smoke" crap to hide an engine blowby problem. With that many miles, check for regular maintenance. My truck has 145K with the original shocks. There's a few other things, you might be able to find or hear about more of them if you look around on this board. Good Luck.
After all is done, I enjoy driving my 93. To this day, I still say to myself "Damn, that is a badass truck!"