Owned a full size paj and room mate has a IO
In many ways the IO is better than the full size, even better than the vitara

but it depends on what you want from the car.
Strengths of the IO:
Great ground clearance on small tires (better than the vitara on same sized tires and I measured as I had them next to each other)
Good on fuel
Powerful little engine (not amazing, but its not bad)
parts are pretty cheap
the drive is decent for what it is
small and nimble
underdog
Weaknesses:
Mcpherson strut suspension means much harder to modify. 29's is the biggest tire you can fit under before hitting the stut and even if you get stut spacers and lift it wont fix this issue. Maybe a day at upull it could be fun to try and find a longer strut from another vehicle but no guarantees.
General aftermarket support is much less than zuks and other 4x4's
It's not a separate ladder chassis like other 4x4's
Less knowledge out there to make capable offroad, everything you do will be pioneering
If you just want a beach and light trail car and never want anymore than 29inch tires it is a good choice, much better than a full size paj for this type of work, but if you want something more serious get the full size or look into a zuk of some kind