I tend to agree with what a lot of people have suggested, 4-1 low is too low for wheeling in deep snow or thick mud where wheel spin is really needed. but, a stock 2.75-1 really does suck in rocks. I would prefer to have the option of both, I would prefer to do it with a transmission in a jeep SWB vehicle as in a sm 420, sm 465, etc...
IMHO I would not spend money on the 4-1 tera kit for one huge reason, older 3.8 and 4.1 atlas T-cases are going to start popping up dirt cheap now that 3 speed, 4 speed, and 19 speed t-cases are availbale in the aftermarket with ranges from stock to 10-1 low range. you could forseeably buy a used atlas for $500-$700 soon. plus you will get the benefits of being able to do front/rear digs, gear driven T-case, and an all around better unit.