DEFINTIELY! i just did mine this summer and it looks great! Kind of a long project but its better to get it right once then goin over again and again. You can throw it anywhere under the jeep that doesn't move. When i did under the tub i coverd the tub that's exposed from the frame out to the door, the frame and all frame mounts, the differentials & axles, sway and track bars, etc. basically you can do anything that doesn't really move. i mean i did stuff that moves, but stayed away or really concentrated on the nuts & bolts so nothing frictional would change. I bought the stuff from the POR-15 outlet, Don in Texas is his name,(ebay or online) did the three step process too. Took a whole quart with two coatings, also diluted the maring clean 4:1, i did the silver cuz i had it bad with rust, and also bought a black quart that i plan to do on the new bumper and anything else that i missed. over coated it all with black rustoleum gloss and kept the differential covers silver, looks good. I used some cheapo paint brushes from the dollarstore in 1" and 2" width, also bought an angled brush that had a 12" handle from sherwin williams, called it a radiator brush, worked great on the hard to get spots. definitely cover yourself it took about a week and half to get off.
here's a thread i made with some pics from mine