First gear is nearly useless in the ax-15 with my 3.23 gears but this winter I'll be swapping in 2.76s and that'll change it a lot. The AX with 2.76s will actually have almost the exact take off as a low first gear 904 with 4.10s plus you get 2 extra gears over the 904 as well. Here's a comparison between the 2.
One big advantage that I believe the r154 would have over the ax-15 is smoother shifting. My ax does good for what I use the car for, a driver with some spirited takeoffs, but it's not the smoothest shifting. That said, another change I'll be making this winter is draining the oil out of the trans and going with Redline MT-90 or Redline MTL which, according to many jeep owners, does wonders for the shifting.