We sure an opinionated bunch are we not?
I have no experience with the 2.8, but everyone says it sucks. On the other hand, I know a guy who tells everyone to trash the 4.0 and put an LS-1 in there.
Here's my advice. Test drive the jeep. If you like it, and are satisfied with the power it has, have a good mechanic go over the engine. Don't skip this step.
Assuming the suspension hasn't saged too much with age, a Cherokee will run 31" tires with no lift ON THE STREET ONLY.(everyone can start flaming me now,..) Much trailer tongue weight or just about any flex, and the tires hit wells, flares, seams, liners, and anything else they can grab.
For towing, 30" tires are probably your limit, and you're going to want to regear. Here's some simple math:
New tire height / by old tire height. This will give you a number like 1.08. remember it, then find the gear ratio installed on the truck now. To do this, look for a metal tag held on by the 2 bolts on the front axle cover. There will be a lot of numbers on the tag. look for a set seperated from the others that read: 3.55, 3.73, 4.10, something like that This is the gear ratio.
Take the tire size ratio you figured earlier( the 1.08 or whatever ) and multiply by the gear ratio. This is the gear ratio you will have to install to get the power levels back up around what you have currently. If you want to tow, go one step lower to pick up a little more omph without affecting drivability.
Heres what it looks like
Current tire: 225 75 - 15
Tire you want: 30 9.50 - 15
You have 3.55 gears.
The 225 is about 28" tall, so
30 * 28 = 1.0714
3.55 * 1.0714 = 3.80
Closest ratios are going to be 3.73s or 3.91s, for towing you consider 4.10, realizing you mileage will suffer a little but the engine/trans will last longer. It gets harder to play the number game as you go lower, there's a big step to 4.56 as the next commonly available size gears.
If you buy the jeep and decide on a swap, here's a guy who did one and the writeup:
http://www.lunghd.com/Tech_Articles/Project_XJ/Project_XJ.htm
Lot of good info here.
Remember to figure not only the cost of the jeep, but also the tires your adding,(300-500) bu the cost of the gear swap(figure about 450-600 in PARTS if you can do the work yourself) when you do the math on buying the baby. IF you want the tires soon, the gear have to go in right after(or before) if you want to tow.
A little humor now: about 2 years ago I felt lazy and called Jeep about rebuilding my rear axle(just a new bearing kit, keep my gears) parts and install from mother Mopar: just over a grand.
I'm not lazy any more, and Mopar sure is a mother.