I have a 2003 FL SE3 and it's worked out brilliantly for me. We only get the V6 here in the states and it works OK, although like most rovers, could always use extra power. I got the Fl to replace a VW Jetta as my daily driver. I really like the Disco 2.5 (2003+) but am glad I passed on fuel bills alone. I don't do very many tough off-road trails, and when I do, I'll just take the RR. That's not to say the FL isn't competant off-road, the little guy has really surprised me.
In commuting duty, it is very comfortable, good sound system, carries everything I need. For road trips etc, it's pretty good as well, with the seats down, there's a decent amount of cargo space, although it's a little tight w/ the rear seats up. It is underpowered but once you get the hang of the "command shift" you can hussle it pretty well when needed. My mileage has been good too, average about 20-22 mpg driving reasonably. I've also gotten 20+ on the highway several times while I had all my windsurfing kit on the roof rack. Mine has also been very reliable, just one idiot light and a couple of minor trim issues, no biggy. From everything I've seen, like most land rovers, the later model years tend to be the most reliable.
There are a lot of people who call the Freelander the "freeloader" etc, and tout that it's not a "real" land rover. It's still debatable, but it really can do some amazing feats off-road and can take quite a beating. Regardless, IMHO it makes a lot of sense as a second LR vehicle for the less taxing duties which their "real land rovers" perform at least 90% of the time.