Some of the AZ guys do run really long shackles, which helps with a lot more droop. I don't know how long, but I'd bet I've seen them 7"-10" long. They don't use them for lift, just for travel, and they angle back. It seems to work fine, though I've never tried it. I don't know if you could run a shackle long enough to accomodate a 5" longer MJ spring, and if you could it would move the axle rearward 3"........and that wouldn't work on an XJ without major fender reworking.
My reason for using an MJ main leaf is simply to get a longer spring pack. A longer spring can allow more travel and more flex and still keep a good spring rate, and a better ride. Just a leverage thing. I used a slightly longer shackle, just like a normal extended shackle, but made it a boomerang so it would handle the extra 2" of spring length in the rear.