Yes. The Gen 3 4m40 is different than the one in gen2. Definitely better. Not certain about the injection system but the inlet is different.
As reliable as cruiser, no issues at all.
My uncle had the 2.8 purchased new in 2004. His driver always drove on a heavy foot, always above 130 and below 160, it never gave him any trouble.
The 3.2 is more sensitive, you will have to be careful with your fuel and have to use oem fuel filter, and have to floor it every now and then so the system remains clean.
Weak points is the fuel pump, it's known for failure.
Its better than the 2.8, mine does 7 local, 8.5 long. If driven on a light foot, the long mileage crosses 9.
1kd has very very good mpg.
Petrol ones were never available new via dewan. Never seen a non gdi petrol Gen3 pajero, unless with a 5vz
In isb, a mint 2.8 touches or crosses the 3 mil mark, a decent 3.2 is available at around 2.5 mil or slightly less.