First of all, let me welcome you to the world of the Full-size Jeep, the ORIGINAL SUV (spawning countless imitators, none of which could improve on the bomb-proof design of the original Wag) That Wagoneer traces it's roots all the way back to the Military M-715, and really changed little to the last year of AMC production (1987).
You got a screamin' deal on those. Currently, just a good RUNNING AMC v-8 is worth nearly what you paid for all three of those Jeeps. And a good used Quadra-trac case is worth about $800, and the plastic front grilles of those years are worth a mint, as well. (A buddy of mine just sold a slightly used and worn one with two small cracks for $350)
Keep a lookout for rust issues in the rear quarters, the inner and outer rocker panels, and the floor in front of the rear seat. These are the parts that rust out first. If they're solid in those areas, you're good to go!
Wagoneers are the BOMB! I owned a '78 Wag for quite a while, mine was 401 powered.
Beware the Quadtra-trac transfer case. If any of them have selectable hubs on the front and a selectable transfer case (The indestructable NP 203 gear-drive) Run those for off-road use. The '87's should both have this set-up for sure, the easy way to tell is that the QT-equipped Wag's have no selectable hubs on the front axle, the selectable-case Jeeps did. Also, on a QT-case Jeep, the rear differential is off-set to one side like the front axle. And no, you can't just swap transfer cases and front axles. You have to swap the tranny(QT-equipped Jeeps used a GM TH400 trans, selectable-case jeeps used a Chrysler 727 tranny.) And of course, the QT jeeps are full-time 4WD only.
I went through six QT's on mine in 4 years on the road, parts are made of unobtanium, so the only solution is to find a good, working used case and baby it. (I was quite hard on mine, however, and the massive torque of the 401 didn't help, either.) Finally parted mine out due to rust issues, and the case was going bad AGAIN!
Wags are nearly indestructable, (except for the darn QT cases, and the earth WILL eventually re-claim them). They're so over-built it's not even funny. I used to call mine "The Road Rhino".
Mine had a mostly stock suspension, except I beefed up the ride height a bit by adding some leaves from some 1-ton dodge 4x4 spring packs"thumbsup" Going from the VERY saggy stock springs to that setup netted me almost a 3" lift, but in all reality it was more like 1.5" since the original springs had sagged so much. This was enough to fit 31x10.50's with some minor trimming at the rear wheel opening.
The only time I ever got it stuck was one VERY cold winter night in a 6' deep snow drift (I was on top of it and didn't know it until all of sudden she just sank up to the rockers)
I've seen lots of these things turned into serious off-roaders. an EXO-cage is cool, but it's just one more thing (IMHO) to get hung up on trail obstacles.
For more info on FSJ's, (more than you'd ever dreamed you'd want to know) go to
http://www.wagoneers.com and join the FSJ mailing list.
Also, if you ever need any parts or anything, I have the hookup for you. A friend of mine owns and drives NOTHING but AMC's and Jeeps. Right now he has Five FSJ's at his house that are parts vehicles, three more that are runners, and enough stuff to probably build ten more. He has well over FIFTY AMC engines and a LIFETIME of stashed AMC parts. He is THE expert on AMC's and Jeeps as far as I'm concerned. So if there's something you need and can't find, he should have it, or know someone who does. And if he doesn't have it, and my other friend Little Dave doesn't have it, well, it's gonna be really, REALLY hard to find.
If you need anything for it at all, or just have questions about them, drop me a line, chances are I might have it, or I can hook you up with my friend's e-mail and you can talk to them directly.
have fun, and congratulations on your new purchase!