I went from 3.07 with 235/75 to 4.56 with 31's. Since the re-gear, on pavement, I rarely use first gear (5-speed pugeuot junk) anymore. Before, I would have to downshift or lose speed on almost any grade - if there was a strong headwind even. Now, I rarely downshift. It definitely feels more powerful and responsive.
The rpm's are much higher now of course, but everyone seems to think that sustained 3000-3500 rpm isnt that big a deal for the 4.0 (no problems for me). I havent taken any long trips since the re-gear, but so far, my highway mileage seems a touch better than it was before. Still not as good as it was when my rig was bone stock...
Also, if you have any driveline issues, they will be highlighted by the higher rpm's.
If I was rarely going off-road (why would I have a jeep then?), I think something a little higher, say 4.11 (3.73?) would have been a better choice. As it is, I think 4.56 is a great choice for 31's on a dual purpose rig.
Travis