Everyone above is defending the IFS setup.
For most people, IFS is more than adequate for the type of 4wding they do.
It's major limitations in factory OME form are that it is weak when compared to a solid axle. This is due to that fact that is requires so many moving parts (ball joints, cv's etc). As mentioned, it has very low unsprung weight versus a solid axle, so is much easier to make perform on the road (which is where all the popular 4wd manufacturers design their vehicles to perform).
Above some mention that independent wheel travel is far better than a solid equivalent. While true in theory, in practice a solid axle has a far better dynamic off road than IFS. IFS relies on the shock/spring combo to force the wheel down, and impact to force the wheel up. It is very hard to calculate the articulation this will achieve before it unloads and throws the vehicle.
With solid, the wheels are forcing against each other in an opposing fashion.
This makes the traction supplied much greater and the ability to control how the axle behaves much easier.
As a rule, solid is a much stronger as well due to the less moving parts, and before any muppet puts their hand up and says how they ripped off a front wheel etc on a solid axle rig, think about how your IFS rig would have fared.......(my '98 playdo biffed off an the entire passengers A arm due to ball joint failure on a sealed road at 30ish kmph).
To sumerise the above, if are not all that hardcore (and a lot of mud bunny's think they are, but they are not

) an IFS setup with some traction aids will be more than adequate. If however you are into a specific type of wheeling, (competition, hard core adventure, rocks, etc) then the ability to tune your solid axle and the extra strength it gives you, can not be easily be replicated by any other type of front end set up.
Ugly is a state of mind..... and the state of my truck!