Don't I remember you saying at one point that you have built your truck as you have in order to be able to make it up virtually any trail while still being able to drive it on the street?
I agree that an exo can be any number of unpleasant things (ugly, heavy, not strong enough, etc), but maybe you could do some sort of a hybrid (similar to Von's). Getting rid of the bed would probably solve a lot of problems of weight and strength, but you could still keep it legal as long as you keep the cab.
Personally I vote against buggy (offroad/trailer only, even for short trips) because it seems like such a pain to have to trailer your rig anytime you want to go wheeling. No more short trips to a nearby canyon or trail. No more throwing the gear in the truck and not worrying about loading up the trailer or finding a place to park the tow vehicle while you're wheeling. No more taking the truck camping because it's fun to drive. No more staying warm and dry during wet and cold weather.
It seems to me that you get less use out of a buggy than a truck with an exo or at least something with a cab. It may be that I am biased because I prefer Toyotas with bodies over buggies, but I have my reasons.
I say keep it legal. Keep as much body as you can, but cage/tube the rest. Good luck. Keep us posted.