My wife and I own an 06 Grand Cherokee Laredo with the 4.7. We like it.
We bought it in 07 with only 17k miles on it, now it's got 75k.
I joined this site because we've been having transmission issues for a while. It's full bright red fluid, but if it sits for 2 days or more, you have to rev it to get it to go into any gear, then it runs at high rpm's for a few minutes until everything 'warms up'? I guess?
Then finally Sunday she wouldn't go anywhere, so she's at the Chrysler stealership getting a new tranny (thankfully under warranty)