well, with 3.54 gears stock, i assume that you have a 4.0L and a 5 spd. if you jump the whole way up to 4.88 while running 33's i would think that the jeep will be a little gear bound. what i mean by that is it will be limited on the top end mph wise.
I have an 87 with a 4.2L and a 5spd, and i am running 4.56 gears and 35's. my top end is around 70. not that i would want to go that fast, cause its not a daily driver and it never sees any interstate running.
IMO i think that you dont want to go quite so deep in the gear ratio, if you dont ever plan on going taller than the 33's. as far as waiting for the 8.8, thats a good choice, but i ran 33's on the dana 35 for almost 4 yrs before switching to the 8.8 rear. never had a bit of trouble with it, as long as i kept a level head when i was out playing.