That sound about right to me. I paid $300 per axle for the gear/ARB install, bought my own gears and install kits for around $500 (Dana/Spicer and Ford Motor Sports) and the 8.8 ARB was around $800 or so, IIRC. I'd also specifiy LubeLocker gaskets as you can reuse them--you'll be doing a fluid change after the 500 mile break in period (I would hope).
'94 Cherokee Country
Engine: 4.0 HO, Sealed canister filter, 3 core CSF steel radiator, CatCo cat, Dynomax Turbo Flow muffler.
Electronics: Remote start/locks, Pioneer DEH-P7800MP w/XM, Polk Audio speakers, Garmin Nuvi 660 GPS, Cobra 148 GTL P&T w/Wilson 1000.
Suspension: Old Man Emu 3" lift+OME AAL, JKS adjustable trackbar, QDs, LCAs UCAs, A.C.O.S., DPG Offroad adjustable bumpstop plate, Daystar poly bumpstops.
Steering: Currie HD steering, C-ROK steering box reinforcement, OME stabilizer.
Armor/Recovery: T&T Custom belly skid, Mopar gas tank skid, JKS LCA mini skids, Rock Lizard Super Skink Sliders, Mopar 2" receiver, ARB Bull Bar/Ramsey REP 8.5 winch.
Drive train: D30 front axle w/Superior Chromo D30 axles & outter seals, D/S 4.56 R&P, ARB locker, Ruff Stuff cover. Ford 8.8 rear axle w/Superior Super 88 kit, Ford Motor Sports 4.56 R&P, ARB locker, SOLID cover, Russell stainless lines. Front and rear Tom Woods HD drive shafts, 242 x-fer case w/Tom Woods SYE.
Tires/Wheels: 33x10.5x15 BFG Mud Terrains on Alcoas.
Misc: Garvin Wilderness rack, Safari Snorkel, Redline Tuning hood lifts.
Awaiting installation: Autometer A pillar gauge pod, oil, water, & tranny temp guages, PIAA driving lights, Goferit tie-rod flip bushing, '95 Brake booster and M/C, M.O.R.E. Motor mounts, TnT Custom 1.5" Shackle.
Stroker Project: HO Block, '99 intake manifold, bored TB, 1" TB spacer, Dynomax Blackjack Header, Permacool electric fan.