The risks are minimal...you are essentially doing half of a full lift, getting 1.5" instead of 3".
You are just drawing up the t-bar adjuster to torque the LCA down a bit to lift the front, and adding a set of $50 lift shackles to the rear to raise the butt.
You need to get an alignment when done, but that's about it.
If you want to add a 2" BL to that for another $150 or so, the larger tires will fit even when compressed, preserving uptravel w/o needing bumpstop extensions.
If you got the PML (Poor Man's Lift) + 2" BL, and added 33" tires, you'd be 1.5" taller form the larger tires, 1.5" taller from the PML, and 2" taller from the BL, totaling 5" more height, and about 3" more ground clearance.
You'd be able to go offroad with 33's and ground clearance, preserve the flex, and will have spent about $200 on parts, plus $30-60 on the alignment.
If you want new longer shocks to take advantage of this, and make the rig ride better than stock, figure another $40-75/shock.
If you bought a full 3" lift, it typically costs about a grand, and you still need the alignment, etc.
If you later decide to go the other 1.5", you can keep every thing you bought, and just add the front UCA's and rear AAL to complete the package, with no waste.
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- TJ
2001 Xterra '03 VG33, SE 5 spd, 305/70/16's, Revolvers, UBSkidderz, Doubled AAL's, 3"SL/2"BL, winch/bumpers, skids, sliders, OBA, Snorkel, pine stripes....
Friends don't let friends drive stock.
http://www.gifsoup.com/view/501230/tj-tackling-crawlers-ridge-o.gif