Prado is a more capable offroader but unless you are going to be doing rock climbing in it, you wont need it.
The Pajero is a much better car on tarmac and feels like a big saloon… it has independent suspension all round and a monocoque construction and you will find its on-road handling capabilities much better than a Prado. Just get one with a decent power plant atleast north of 200hp
If you buy the prado, get the powerful one turbodiesel and use it. the prado has the imposing looks and cushy off-road suspension, but of course the Mitsubishi will be the better car on the road. If you have the money dont buy an older car than you have to.
Prado is body on frame and therefore will handle more off-road abuse than pajero and land cruiser 200series, but that makes it wobbly on the road at high speeds, and if you corner carelessly at high speeds you tip over. Pajero and landcuisers 200 series won’t entertain body twist abuse on rough roads like Prado but comfortable and stable at high speeds on smooth roads