HP means very little in this niche, it's mainly about torque and that 3.8L (the 3.6L was a joke, but the 3.8's still have problems typical of Chrysler as it's derived from their older minivan V6 which I have unfortunately had to fix a ton of them) only puts out 260ft.lbs. The 4th Gen's 4.0L does 285ft.lbs and the V8 does 306~320ft.lbs depends on the flavor (VVTi or non-VVTi). It's not so much about speed as it is about power to get those big tires (I mean 44's is the minimum you go for on a Jeep if you're gonna get one

) and get through and over obstacles. Sure you could gear the crap out of it so that it never stalls in any gear on a 30degree incline, but you're also never gonna be able to drive on the freeway.
You're lucky then, almost all the Jeeps from 2000+ I have worked on have rattled on test drives, among other issues. The problem is that most of the electronics and other components have "Chrysler" stamped on them and that causes issues in and of itself.
Don't get me wrong I like Wranglers, they are fun toys and honestly had I not fallen in love with the 4Runner (and had Jeep offered a V8 for the Wrangler and 4-Door at the time before I knew better) I might have gone the Jeep route. But Jeep as a company and as a vehicle has been going downhill since Chrysler attached their name to them.
Post Note-
I just want to point out that I'm not saying this because I'm a 4Runner guy, I'm saying this because I've experienced Chrysler quality first hand regularly as a mechanic. It's so wonderful they went bankrupt twice and are now owned by Fiat of all people.
[MENTION=101553]t-man[/MENTION] makes a great point, as a stock vehicle the Wrangler isn't a great all-around vehicle; it does okay off-road and somewhat decently on-road. But where it shines is that fact that you can just about do whatever the hell you want to that vehicle pretty easily and I can admire that.
Also I'd buy one of these: