only downfall is dirty and rusty and will become a pia to work with after being subject to our wonderful weather and dusty trails.
spend the extra $100 or so and get an x jack. much safer and easier to carry and store.
+1 on the X Jack. I love mine.
If you feel the need for a hi-lift, then get a rear bumper that has a bracket for it, or get the River Raider bracket that fits in the cargo area...but in either case, only install it when you're on the trail and likely to use it. Otherwise (like Al said) it's goign to be covered in the dirt and brine crap from the road and you're going to hate it.
As far as mounting a hi lift on your hood? That's okay aslong as you don't mind gouges and scratches on your hood and cowl. A Hi lift is a big hunk of sharp pokey metal to be lifting up over your thin and shiny sheet metal.