Your 1994XJ/4.0/AW4 should have 3.55:1 gearing - that's how they all left the factory. You may want to check your differentials for a small metal tag that's held down by the cover screws - it will be about 1" x 4" or so. It should read something like (I'm looking at the tag for my 1989 D35, but yours should be similar...)
"53005045
3.55 610322-7"
The first part of the second line is what you're interested in - it's the gear ratio. In this case, it's 3.55, since it's off of a 1989XJ/4.0/AW4. 3.55's were standard gears for the AW4.
As far as streetability, the 3.55's complement the AW4 far better than the 3.07's do the BA-10/AX-15, I still don't know why they were used. Going to a slightly larger tyre will help also - my DD's run on 30's, and touch 20mpg (and this is on trucks that are 17 years old!)
While you're down there, note well if you have a tag that sez something to the effect of "Use Limited Slip Diff Lube Only" - it means you have LSD, and will need to add friction modifier to the gear oil in order to prevent clutch chatter and make the thing work. If you aren't sure, it's not going to harm anything if you add LSD/FM anyhow, but if you have LSD and don't add FM, you'll get chatter, and eventually need to rebuilt your differential. I've heard that GL-5 spec gear oil already has FM added, but I'm not sure, and add it anyhow (I've also got a couple with Trac-Loc LSD...)
5-90