Ya, in low, with the automatic, you should be good for some mud fun..
I ran big wide heavy 31's with my manual, in low and ran out of power now and then in really mucky stuff.. with 5.12's... but your automatic with it's what...4.62's... is about equal to a manual with 5.12's with the torque multiplication you get with an automatic with a torque converter...
So yeah.. you should still be able to have some fun..
lower gears are going to make a BIG difference off and on road..
Re-gearing for bigger tires is the SINGLE most important thing for off road performance in my opinion...... I did things with little 235's and open diffs that just AMAZED me... granted they were GOOD 235's.. (Maxxis Buckshot Mudders) but I had the power to spin them in low. When I got my 31's.... it lost plenty of power in the mud, and on power robbing hill climbs... like sand and soft dirt.. Was still quite capable... but I didn't get that wow factor back until I went down to the 5.62's...now, it's not great over 60mph, but it will get there fairly quickly, and it'll spin the 31's up real nice in the mud when I need it.
Gears... get your wallet used to the idea... you will WANT and NEED them eventually.
I would rather trade half an inch ground clearance (1" in tire height) and go with some 30x9.50's or 10.50's... and have the power to spin them, than get the extra .5 inch and bog down in the sand/mud/hills...
It's a fine balance but you will figure it out! It depends on how you end up wheeling too... you can get used to anything...