I've enjoyed this thread, thank you. I found the comments thoughtful, and many writers reinforced my own choices and experience. Like most of you, I've gone through the whole gamut of 4WDs, from IIA Land Rovers and Land Cruisers through six Subarus to the Gen III Outback I drive now. Someone above said that owning a Subaru reflected the sort of community we'd prefer to be a part of, and I couldn't agree more. I'm 61, and while I did my share of bog-bashing and rock crawling when I was younger, I now have little interest in it. Our pastime nowadays is backroad touring, and getting to those secret picnic and camping spots. The tracks we do are river access, and farm and forestry tracks, so our Outback is, for us, the perfect choice, although I fully understand why some people prefer the Forester's geometry.
We spend 95 per cent of our time on formed roads — and probably 80 per cent of that on tarmac — so the mods I've made are all about improving the Outback's road handling (admittedly with some negative consequences for the ride). It has bash plates, and we carry recovery boards and snatch straps, but I hope never to have to use them. We usually take our Labrador with us, and he tends to occupy most of the rear cargo area (I put our bags up on a roof rack). As such, the Outback gives us a bit more room than a Forester. We usually amble, so I can get around 9l/100km (which, incidentally, isn't a patch on the 7.7l/100km I could get from my BH manual).
For me, there's a lot of satisfaction in choosing and owning just enough vehicle for the job, especially given the environmental responsibilities we now all carry. I have friends with Discoveries and Isuzu Troopers, and the money they shell out in repairs and maintenance makes my eyes water, yet they almost never use those vehicles to anything like their full capability. Riding in them, those things feel like a wheelbarrow full of walruses.
Finally, there's also a lot of satisfaction, I reckon, from exercising good judgement, and I heartily second the writer who said that driver ability is the most important thing — the decision to turn around is often the slickest move.