I've ran a 2.3 4x4 for the last 6 years, they do ok, not a power house but get the job done. When I first converted to 4x4 I was running 31" tires (looks like about what you are running) and was a decent match for the engine but 5th gear was useless below 55 on flat roads. Going 4 wheeling was hard on the clutch but the truck did very well for what it was back then... Now with the turbo engine, lift and explorer drivetrain it's a whole different animal, more power than a 4.0 with the capability to add another 100hp by putting in premium fuel and unplugging the boost controller and powering up the high octane switch...
The trick with the stock engine is to keep the RPM up, the 2.3's don't care, they'll live a long life running at 6000rpm... horsepower peak is 4600rpm so if you are doing something that needs power, try to keep the engine at or above this point and you will do everything the engine can...