The Bad
Here's the biggest problem: the price. As tested, the truck cost $30,475, which puts it deep into Silverado territory (you can get a 2WD extended cab Silverado work truck for $27,455 with the 5.3L and a 2WD 5.3-liter extended cab LT for $30,525-and those prices don't include rebates from Chevrolet, which totaled $5000 for the Silverado and $1000 for the Colorado on the day I looked). The Silverado won't provide the same acceleration (we got 8.2 sec out of a 4WD Silverado; that's another unfair comparison, but again, you get the idea), but offers a lot more capability.
The Colorado itself starts out at $17,430 for the regular cab work truck, but there are body style and trim level requirements to get the V-8-for example, you can't get the ultimate hot-rodder's configuration: regular cab, short bed, manual transmission. Getting the V-8 actually costs more than we hoped -- you can't just add the 3LT package to the base Colorado, and you have to get the 3LT to get the V-8.
The Ugly
Many people think that as far as styling is concerned, the Colorado was a step in the wrong direction as a follow-up to the S-10. The Colorado uses big truck cues -- big fender flares, chunky grille -- on a small platform, and they don't quite work.
Also, while the 3LT interior receives comfortable, supportive leather bucket seats and an auto-dimming rearview mirror, the rest of the cabin is essentially the same as it was when the truck first came out six years ago. It has the same hard black and gray plastics, the same stereo, the same steering wheel, and neither nav nor an MP3 player/iPod interface. This last item is a minor thing, but when you're spending $30K on a compact truck, you'd hope it would be included.