Despite it being the first year for the 4.0, and the first year Jeep used the AW4 (but not the first for the design), The 87 was good right from the get-go. The only thing about an 87 (through mid-89, I think) that is more of a problem than other years, as far as I know, is the wiring harness for the engine controls, which passes through a large connector on the firewall. Because the Renix FI system is very sensitive to tiny alterations of voltage, bad connections here can cause problems. It's not that hard to maintain, though.
The Renix fuel injection system differs somewhat from the Chrysler system in your 94, but it is quite dependable. One thing you might miss is the on board diagnostics, but with folks like Eagle and 5-90 and all, the on-forum diagnostics are almost as handy.
About the only other weakness I can think of is that early Renix injectors often leak, not only from the seals but from the body where the electrical connector feeds through. Do a very careful check and sniff of the injectors when the engine is running, to see if there's any problem there. If the engine was properly rebuilt it should have new injectors anyway, but make sure, because it would be a pity to burn up a nice 87.