i started wheelin an amc eagle with no low range and street tires. i quickly learned the value of having a low range and mananged to swap out the single speed full time transfer case with something better,and then quickly found the limits of 225/75 street tires with open diffs

i cut the fenders,welded the rear,and added some 31" mud kings and it actually did pretty well. i had alot of fun,and learned how to drive.
that rig also taught me very well to be prepared ;) with IFS and 2 piece rear axles,there were not many times that i drove it to the trails and back without some sort of trail or roadside repair along the way. wether your taking your DD or a dedicated trail rig,and wether your taking it on a trailer,a towbar,or sitting behind the wheel a big part of having fun on the trails is having plenty of tools and spare parts,fluids,etc. so you have some peace of mind and can enjoy the scenery.
i got an 85 grand wagoneer that was supposed to be for parts for eagle solid axle swap. instead i started wheelin the GW. i paid $60 for my first set of 38s and fit them with a 3" body lift and a sawzall

i was amazed at the places i could go on bald 38" gumbos with 8-10 psi in each tire. went many places the eagle wouldnt,even with 2 open diffs.
i drove this rig to the trails alot in the early days and experienced everything everyone has mentioned- 25 mph with shaking tires,broken u joints,fluid changes,etc. more than once i had to stop where i was and pull the tranny pan cause i filled the auto up with water :mad:
the fun greatly increased for me when i aquired an 87 suburban to tow it with. on a towbar at first,then a trailer. like sarge,i used to enjoy driving it on the road,but it gradually became not practical.
now i still enjoy driving a jeep on the road,but i have learned that i cant wheel the trails i want to wheel with 31s,and 38s are not practical for street driving,plus you have to have stuff like windshields and turn signals ;).
so i now have 2 different tow rigs,2 different trail-only rigs,1 small trailer,1 large trailer under construction, a much milder modified jeep cherokee that i drive daily most of the time and dont wheel much. i also have a a very conservative car(grand am) that is nice and quiet and gets good gas mileage when i dont want the ride quality of a jeep on mud tires.
i personally think instead of modifying your TJ to 94 truggy standards,that you should keep it as is. if you want to wheel on extreme trails there are lots of different half ton trucks that you cna buy for cheap and "truggy-ize" and youll end up with a very capable rig that you wont worry about denting or damaging,and for prolly alot less $$ than youll spend on beefing your front 30 and swapping in a rear axle that will have a matching bolt pattern. plus,its alot of fun to build them. ive built a few roll cages and my own scout truggy and its amazingly satisfying to wheel your own custom creation.
blazers,broncos,scout IIs,FSJ wagoneers,not to mention chevy, dodge and ford trucks. start with a 3/4 ton truck,remove the body,add a rollcage,and some 38"+ size tires with a welded rear and have some fun