I recently installed a suspension and body lift on my jeep. Both, as Oz pointed out, were not terribly difficult. The hardest part I ran into was the U-Bolts were some what hard to loosen, and finding a friend willing to work all day. But when you offer pizza, beer, and snacks, they come out of the wood work.
I installed a 3.5" lift and a 1" body lift. With this kit, the suspension lift is not high enough to driveshaft mods. But gave me enough lift, with the 1" body lift, to put on 33' tires, have more confidence of-road, and looks really nice.
My advice would be to go for the suspension lift. In the long run you will be much happier.
94 4.0L YJ, 31x10.5 ProComp MT's, 3.5" BDS, lockers and 4:56 gears to come!