Exactly. AP-equipped or not...the H3 is very capable.
The biggest challenge is keeping things in one piece! That's where the 4:1 has a real advantage. It allows you to attack obstacles slowly with less wheelspin, and more control. You don't need to "momentum" your way up the trail like your do with the 2:1 case. Instead you are able to slow-down, pick your line, and idle-crawl over rocks and up steep inclines. I've seen many non-AP H3's try the ole "back up and hit it faster" trick...over and over until...KA-BANG! munch munch munch. (Come to think of it...I've seen some AP-equipped H3's do the same thing!) -LOL
My point is...the H3 has a fragile front drivetrain and anything you can do ease the abuse is better. Number one thing you can do is to keep wheelspin to a minimum. The 4:1 is MUCH better at allowing you to control it. Also, don't forget the BPM trick...a technique used by a lot of Hummer drivers. This can really make up for lack of an AP-package, if you are good at it.
And while everybody is ripping on Schwarttzy...I'll go on record as saying: that guy can drive! I've seen him stuff a bone-stock H3 (with bald tires) into places I didn't think any vehicle could go.