First order of business should be to define what types / difficulty levels of terrain you are comfortable tackling and how much damage you are willing to accept or spend money to prevent. There will also be regional factors in your decision. As mentioned earlier, a good resource is the local off road club. They will have a good idea of what terrain types are most prevelent in the area and what modifications are best suited.

Next you should define the purpose of being out there. Are you trying to reach remote camping locations? Are you trying to get your adrenaline pumping in your new ride? Your truck, your choice, but the modifications should reflect the purpose for which it was built.

Next you must define a budget. Builds can rapidly spin out of control unless you limit your scope to something simple and well defined. For example, you want a truck that can take you down some simple trails and get you back home safely. Your budget should not include a snorkel, solid axle swap, or even new gearsets. It should include a set of good tires (a true A/T or a M/T), and investing in some basic recovery gear. As you learn how to wheel the truck and begin to discover the poorly performing aspects of its current configuration, you can research modifications.

This is undoubtedly your first build. Take it slowly and do your research before buying anything. There are pros and cons of many modifications and certain equipment is simply better then other equipment, which usually fetches a higher price. Chose wisely or you will end up spending the money multiple times as you replace crappy gear. A good rule of thumb is: Pay the money, cry once.

I wish I had asked the type of questions that you are asking when I was your age. My first two builds were more for looks and trying to keep up with the other guys then builds that really suited my needs. I wasted a lot of money. I've learned a few things the hard way... things that I'm telling you here.

Good luck and have fun with you build. Feel free to bounce ideas off me or ask additional questions. I will keep an eye on this thread.

See you on the trails,

Leary