Speaking from actual experience...first gear and 4-LO will crawl and crawl and crawl all day long, up steep grades, over rocks, over ledges, over everything. Your tires (aggressive vs. sissy) will determine how far you actually go, but it will not stall. One little-known feature in the KJ is that when placed into 4-LO mode, the engine computer recalibrates to provide better idling and compression. It's evident when crawling in 4-LO. If you don't mind going slow, just put it in first and 4-LO and enjoy the scenery. You won't need to touch the gas pedal. If you find you need to speed up and the RPMS are getting too high, just shift into second or third, whatever you need. Just because you're in 4-LO doesn't mean you can still shift gears.
Marlon was right, if you aren't yet familiar with your clutch "feel", don't get too serious off road. Knowing how to control the vehicle using the clutch and brake should be second nature to you before you go too far into the woods. Good luck, and don't be afraid to beat it up a little...they can take it.
After wheeling my Liberty with the 5-speed, I wouldn't have it any other way!