I have used a couple online calculators and they give me 3 mph for 3.73 gears, 2.5 xfer, 29 inch tire, and 300 rpm,
http://www.bgsoflex.com/cgi-bin/rpmmph.cgi?gear=3.73&xmisn=2.5&tdiam=29.0&mode=Vehicle_MPH&rpm=300.0&mph=
And with 1:1 4x4 high, 7 mph. I guess that is fast enough, interestingly, I youtubed 3mph and there is movie called that which is the speed of a horse walking..and at 7mph that is a pretty fast walk.
So I'd say the 300rpm motor would be good, the additional torque could help.
BTW, I checked and the truck has a 3.45 gear ratio, so when I change the rear to the 8.8 with either 3.73 or 4.10, I will need to use bigger tires in the 'front', 31 and 33,
which is probably a good thing, and keep the smaller 29 in the 'back'.
I have not been able to find a good auto 4x4 trans for this truck, these 80's trucks are mostly all gone now. In any case, the torque converter / trans would get really hot going back and forth all day,
and there is a typical delay in shifting from 1st to rev, i'd assume there isn't really a delay when using a hydraulic motor going from F to R.
It basically adds minimal cost as I see it, maybe $250.
I think I can drive the pump from the front crankshaft, I'd move the radiator and use electric fans already. with the trans gone I could hook it up to the flywheel, and heck if one wants to clutch the connection, can use the trans clutch with some creative mounting hacking. If a belt drive will do, I can use the water pump fan flange to attach a rubber coupler.