The bottom ends are normally pretty solid. If it was just heads I would put improved heads on and roll new bearing in the bottom end and be done with it. My ex-wife has my 04 WJ and it has 180K on it. It still runs like a top. She does stay on top of the maintenance and services. Treat that 4.7 right and you will be fine.
While I love the look of the factory grill I wanted something different. I picked up this grill insert from Realtruck.com for $150. The quality is amazing. It was a tedious job but I am very happy with the results.
Congrats Eagle! Now you need to submit for a revised DD215 with your correct awards on it. I just received a Navy Accommodation Medal award after I retired and have to have it added also. I wish they would have given it to me before I signed my DD214.
Check the front drive shaft slip yoke for play. My MJ has a clunk in the front end and it is the shaft. You can replace the bushing and seal on the slip yoke to get rid of it.
A HO YJ even with the 2.5 is still worth $4000 if it is in good shape, no back fees and passes smog. Most people with jeeps know what they are worth. If you can get a good deal on it go for it. Just don't get you hopes up you're going to get it for $800.
I did a few little mods to give the truck a little more of my style to it. I replaced all the lights with smoked versions. Added matte black overlays to my factory chrome badges and to the hood gills. Next order of business is the grill overlay and wrapping the bumpers.
I was a Marine for 25 years. I just retired this month. I somehow managed to pull it off several times. You know what they say about excuses? You got to love the hobby and thrill of the chase.