The T5 has several 5th gear ratios available, from about .83 to .72, so you do need to watch that, but close to 2000 RPM seems to be a good spot for economy on a carburetored 258. That's usually a 3.54, 3.31, or a 3.08 axle ratio depending on tire size and overdrive. I've heard the 5th gear swap isn't so bad.
3.31 is really hard to find, but you could get by with a 3.08 on a smaller car. If you don't enjoy shifting, go to the 3.54. With the Pacer I can squeal the tires with a 3.08 and 3:1 first, and the T5 is close to 4:1, so it's going to go.
A lot of standards came with a 2.73 ratio, and those can be swapped to a 3.08 or lower. I think that 2.73 is good with an SR4 or automatic, but difficult with an overdrive.
I like
This Calculator for playing around with the numbers. If you compare against the Cherokee with the stock 3.54, 225/75r15, and an AW4 or 3.08, 225/75r15, and a T5; you can good comparison.
(Note: depending on rounding, printed ratios can vary .01 or .02 from each other)