I'm getting to this thread a little late but- You have an absolutely awesome truck already!!! I wish mine was a stick shift!
Just throwing it out there but, why not keep the power wagon, chop the fenders put 40s on it (on some wheels with less backspacing), Thuren long arm 3" lift up front, then chop the rear spring mounts off, mount the springs forward on the frame (shorten the wheelbase) and 1" down (level the suspension in regards to the 3" lifted front) bob the frame rails aft of the rear axle and do a dovetailed bed cage? (remove the stock bed of course) Also, some beefy rocksliders are needed as well! Then you would have all the awesomeness that is the Power Wagon intact in a shorter more maneuverable package!
OR….. (slightly) milder approach… 3" Carli or Thuren lift all the way around, Carli or Thuren normal arms up front. Cut fenders up front, 40s and a dovetailed bed cage (remove the bed) with a bobbed frame aft of the rear axle. (basically same as above plan minus long arms and minus rear axle relocation) Keep the adding beefy rocksliders though!!!
OR…. same as the milder approach but just remove the bed before you go wheeling and bolt a dovetailed bed cage in its place BUT without bobbing the ends of the framerails. (I wish I would have taken this approach, taken my bed off before I dented it, LOL!) Oh, and keep the adding beefy rocksliders!!!
OR…. do a lift, tires, bed cage, and rocksliders, keep the stock bed on, BUT stay off the TIGHT trails!!!!
Also, just a note: you don't have to worry quite as much about body damage as me, your truck is 10" shorter wheelbase so, a little more maneuverable! It's a very slight difference but, at times, it can do wonders!
If you do keep the Wagon and wheel it, I definitely recommend a bed cage at minimum, I plan on doing one for mine. I saw a pic just recently- these trucks' roofs flatten like a pancake when they get rolled!!!
Here's my most recent pics of the damage on mine:
(bedsides, a little to the rear door, and a busted mirror cover)