I was looking at one out in Idaho, since I do auto finance I beat up the dealer and he was willing to sell it to me for what he paid for it at auction, since it's been on his lot for over 2 months and he had it over priced for his area anyways...
as for buting a 2WD 4 banger... and making a ton of mods... if I did that, I wouldn't get to drive it for a few years, since I'd be reading manuals on how to install and replace so much stuff hehehe.. but as a side not, I found a guy really close here that has one like that for under $1500, is a 4wd 2.5L... so at least I do have that option if I choose to explore it heh...
from what I saw through my research, I got to get the 4.0L or it just won't be strong enough for what I want to do.. I hate to be under powered. Short or long bed wasn't really an issue to me, since I can manage with either, but short is probably better for departure angles...
Oddly enough, I do prefer an automatic, I prefer to pay more attention to manuevering than what gear I'm in and risking burning my clutch or stalling in the wrong places... my cherokee was automatic and it was great for the areas and my experience level. If it has AC it's just a bonus since I can always convert the compressor and use it for an air supply or whatever...
I'm glad the front suspension is basically like the XJ, so if I go to a 5 or 6" lift, there shouldn't be any shortage of kits for the front end... my only fear will be doing the leaf over conversion, which I have no experience with and I have no welding experience or tools, and I'm sure there will be some cutting and welding of new brackets for that sort of thing...
You do have my interest in maybe saving about 2 grand and just buying the little 4 banger nearby here... but I still have my doubts that I would be on task enough to ever finish such a project, not to mention the time and money to bring it up to specs for what I'm going to end up doing anyways... maybe just save myself the hassel and grab the one in Idaho and just shop and research what lift to do...