It would not tow or haul heavy loads well with 3.08 axle ratio
3.55 might be a better choice.
Overdrive on Rangers is a .75 ratio
3.08 would be 1,875rpms at 65mph
3.55 would be 2,150rpms at 65mph
4.10 would be 2,500rpms at 65mph
The lower ratio would certainly have better MPG at highway speeds but acceleration would be sluggish so you would have to accept that and keep your foot off the gas as you got up to highway speeds or you would defeat the purpose, lol.
4.10 = peppy but less impressive MPG at highway speeds, great for towing
3.08 = sluggish but great MPG at highway speeds, dismal for towing