What should i expect to replace on a 2001 jeep gran cherokee v8,4x4 w/ 123k on it?

That is hard to say exactly. It depends so much on how the car was driven, how the car was maintained where the car was geographically, if it had a hitch and was used to pull trailer, if regular maintenance was done, etc. At this point you could expect ball joints, tie-rod ends, brakes, alignment, ignition tune-up, fuel system tune-up etc. All these items again depend on past maintenance. I couldn't tell from your post if you are buying this vehicle or already own it. If buying I would ask for maintenance records and really look Jeep over well. My nephew has a Grand Cherokee and he has 230,000 on it and it is still very nice and runs great.