I have a 2000 with the V6. I regularly spray my engine bay with a solution of SImple Green cleaner and water. I use a simple hand sprayer. I let it sit for about 5 to 10 minutes and then hose is all off. I've never had a cleaning related problem.

The brackets in the engine bay that hold things on, like the upper radiator brackets, the brackets for the anti-lock brake control, etc. will all rust. They aren't painted and the junk coating that they have will wear off very quickly after you start cleaning.