[99WJ539918]

You can rent a cherry picker for $35 a day from Advance Auto. Or buy one from Harbor Freight for $139:

http://www.harborfreight.com/Shop-Crane-1-Ton-Capacity-Foldable-69512.html?ccdenc=eyJjb2RlIjoiNTcxMjgwNDgiLCJza3UiOiI2OTUxMiIsImlzIjoiMTM5Ljk5IiwicHJvZHVjdF9p%0D%0AZCI6IjkwNzMifQ%3D%3D%0D%0A

This will be so, so much easier for you. Unbolt the block from the motor mounts, unbolt the trans from the trans mount/K member, and unbolt the front and rear driveshafts. This is, of course, after you hook up the cherry picker to your block and remove the front bumper, radiator, and reposition/remove your AC condenser. You're probably only 2 hours away from having it out. Even less if you leave the transmission and transfer case in the Jeep.

But if you're still set on not doing that... You do not need to support the rear of the trans as the trans mount does that, as the engine supports the front of the trans. The bolts go into the back of the engine (so the heads are facing the rear of the vehicle) so you'd have to face the front of the Jeep when removing or loosening the trans bolts in the bell housing. You do not need to support the engine as long as the motor mounts were not removed. Good luck.

 

[99WJ539918]

You don't need to remove the radiator, but it's only a couple bolts and it will make things so much easier. Are you planning on removing just the block, or the block and the trans, or the block, trans, and transfer case? If you're going to remove anything besides just the block the you're going to have a tougher time with the radiator and front bumper cover in place. At most you're talking fifteen to twenty minutes to take the front bumper and radiator out (along with moving the condenser out of the way). It will be so much easier for you to do it that way. And you don't "need" an engine stand, you can get the bottom end built and lower the engine on a tire (no rim, just a tire) and then reassemble the top end. If you want to buy an engine stand you can also find them at harbor freight:

http://www.harborfreight.com/1000-lb-engine-stand-69886.html

Most gasoline engines with aluminum weigh around 500 lbs. so I imagine the 4.7L to be right around there. You'd only need a 1,000 lb. engine stand. Good luck and take lots of pictures. Here's all of the pictures I took of my engine build and swap, I wish I took more. You can see how much room I have after removing the front bumper cover, condenser, and radiator. I put my block on an oil drum after I put that back together and assembled the rest of the engine on that drum. You can't see, but my old block on the floor next to the drum had a screwed up cylinder wall from the #6 connecting rod cracking and subsequently blowing that piston to hell.

 

[99WJ539918]

updates: bought shop floor crane and engine stand from harborfreight, will lift the engine block out...

Nice, good luck.

 

[99WJ539918]

I would replace the valve seats. I have seen many of these heads/engines get replaced for the problem you're talking about. I don't think it'll run you $500, though.
The cylinder walls look pretty good. I would just run a cylinder hone in them to clean it up a little. Good luck.