Things mostly work, but there's still plenty of room for improvement.
The new 3.38 ring and pinion gears are pretty tall. This is primarily annoying for town driving as the clutch is quite sensitive at stop lights. Starting off is a slow process. On the highway and offroad it's pretty happy. It can cruise 60mph at 2200 rpm and keeps up with 75mph freeway traffic no problem. Steep hills can be slow if approached before building up speed. But that's just charm of an old stovebolt.
The 'crawl ratio' offroad is 44 (1st gear X transfer case X differential) 7.05x1.83x3.38=44. Not quite as good as 51 if it had the 3.9 ring/pinion. But still plenty for all but the most extreme rock crawling where you'd probably need lockers and bigger tires anyway.