The deepest you can re-gear your rig with its current Dana 40/44 axle assemblies is 5.13:1. That is the ratio you should choose.
My first hand experience is this:
When I purchased my LJ Rubicon with 42RLE transmission and "metric 35" tires (34.5") it had 4.88 gears. Performance was sluggish and overdrive was nearly useless.
During my gear ratio decision-making process I drove my gear installer's jeep, equipped identically to yours with Dana 30/44 axles, 4.0, 42RLE transmission, 34.5" tires, but with 5.13 gears. The gearing was much better, but I was still manually shifting out of OD more than I liked so I knew 5.38 would be a better choice for me.
I re-geared to 5.38 and never looked back. The ratio keeps the engine in its power band which makes it more responsive and more efficient. Just last weekend I did a 600 mile trip that included quite a bit of twisty 2-lane mountain road and many hours of Interstate driving at 75 mph on flat land. It reaffirmed my gear ratio decision.
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Note: If it is correct that there are vendors now offering 5.38 gear sets that fit a non-Rubicon TJ Dana 30, then the 5.38 ratio is what I would recommend over 5.13. However, if there are no such gear sets and 5.13 is as deep as you can go I wouldn't lose sleep over it.