I am running the 3.8L with 5:38 gears. The power is ok I guess. To me.... it's just a jeep so I don't drive it like a sports car. I am running stock steering on it. I've had no issues with anything, and it gets driven pretty hard on trails.
As far as tires go. the Pitbulls are BIAS ply so they are not the best tire for smoothness. That being said, I had a problem at the beginning as I was using beads to balance the tires. I switched to weights after a short while. and it's much better.( the beads worked great on my super swampers) These tires are 16.5" wide but measure 17.2" wide on my 12" rim. I could drive it as a daily, it really is that good on the road. I have no issues driving it a long distance at all it's very well behaved.
Yes the rims are 5x5.5, I had a very hard time finding rims that were exactly what I wanted with my backspacing. I found only 1 company that offered a 17x12 rim in a beadlock and I got to pick what backspacing I wanted, the width, and the bolt pattern. He didn't wanna ship to Canada, but in the end he did, it just cost me and arm and a leg to get them here.