I had a 2001 TJ 4cyl 5-speed for about 8 months. I sold it last December for $3500. It had about 63,000 miles on it. I bought it for $750 and put about $1500 in it to make it functional. The year before I bought it it spent sitting on the top parking deck of a condo overlooking the beach. It had no top and a dead battery. It lived by the ocean most its life so it was rusty to begin with.
Cosmetically I replaced the seats, top, radio, painted the dash, and POR 15'd some of the underside. Mechanically all it needed was brake job, shocks and a tune up. The blower would work randomly (never when I wanted it to) and the easy fix ended up not being the problem. I sold it to fund an engagement ring and I wanted to be rid of it before any major issues popped up.
It was stock aside from the 31 BFG AT's on some Centerline Rims. It had plenty of power (read tq and gearing) around town but was horrible on the highway. I beat a 4cyl 2000 ish manual transmission Accord in a little stop light race. We were almost breaking 45mph by the end of the run. I enjoyed driving it but the worry of breaking something expensive kept me from really wheeling it. It handled light mud, soft sand and curbs just fine though. In the end it was worth more to me as cash than as a driver.