As for cheap, if you watch the ads here and elsewhere, or have great friends (thanks!), you can get parts for cheap. Personally, I've said ever since I bought this ZJ, 2" of lift and 31s or 32s was all the bigger I intend to go. Add some sliders and improve on the existing skidplates and thats all I need. (I have to keep convincing myself this too)
Case in point. My own 95 ZJ. I got a pair of front lower arms, front uppers, and 2" coil spacers, all free or real cheap. I bought all new bushings and sleeves as needed for the arms. And hope to get the whole lift in either this weekend or next. I also got a Lockright for the front axle for cheap that I just haven't quite convinced myself to put in before snow flies.
I could have gone with new or slightly used lift coils for the front and do the front to rear swap, but got the spacers instead. They should hold up well for what wheeling I do and intend to do. 2" will do nicely.
And if I do ugrade later, I'll pass along the parts just like buddies did for me...