The Sport was a great rendition of the Explorer. I've owned three of them ('93, '97 and '00). While the '00 looks different than the '01, it's mechanically VERY similar. I can say with certainty that if I didn't have a new addition to our family and getting him in and out of the back seat wasn't such a hassle with a 2 door, I'd still drive the Sport. Instead I traded in on a 4 door Explorer. The Sport is 10" shorter than the 4 door and is very nimble performer, especially if you get an upgraded rear swaybar and better shocks. The SOHC engine has plenty of power and even more with some simple mods (you have the exhaust, get an aftermarket air intake and some custom programming to start and you'll notice the difference).
If you like it, the price it right and it checks out mechanically, go for it. Then hang around this site a lot and see how many mods you can make to it. I still have the detail on my Sport in my "registry" which is linked below in my signature.