I have had mine up and running for about 10 years and I think it is great. The modifications are simple enough and you keep all your original auxiliary pieces and fuel injection. The increase in power is very welcome considering my jeep is running 36"s. Mine appears to be as boom proof as any 4.0 and will happily sit on the motor way all day long, has seen the rev limiter more times then are sensible and has taken repeated overheating in stride because the radiator is blocked with mud.
The only problem I have had is not to do with the stroker conversion. I have a large volume oil pump and this puts to much stress on the dizzy drive gear and it failed once. The 4.0 doesn't need a large volume pump and now that I am back in cold climates the oil pressure can be very excessive when cold.
You will find some good information on here.
http://www.jeep4.0performance.4mg.com/stroker.htmlIf you do go with a stroker keep it simple. You can now buy direct fit stroker pistons so the quench and compression are spot on. The easiest version you will need a crank, pistons, larger injectors and possably a voltage regulator for the map sensor.
Strokers don't have the best reputation mainly because some companies in the states putting out expensive poor quality engines or kits. If you go radical with a large cam the engine also suffers from excessive lobe failures. Increasing the cam requires extra spring tension, machining the head or other work and the benefits are not enough in my opinion. A buddy of mine went through three Crane cams and never got more then 5000 miles out of them. No wonder Crane went bust.
The side benefits to the stroker is that it looks stock. No issues with the MOT man or insurance companies. Mine has been registered in three contries now without an issue or question.
Most people will also say to go with a V8 conversion as it supposedly will cost you less. I did the work myself and shopped around for the parts so it cost very little. I couldn't have installed a worn out 1970's carbed V8 for what I spent.