Go for it man, there's plenty of lifted 2wd's. I have actually made it through mud that a 4wd dakota and a 4wd stock f150 got stuck. They both tried after I made it through and til this day I haven't let them forget my 2wd made it through stuff their 4wd's didn't.
The ranger's are also pretty light trucks. Many people don't realize what a 2wd ranger can make it through if driven correctly. And the best tank I have ever gotten averaged to 23 MPG with 33's. I mostly drive it easy though plus it's a manual.
I have 4.10 and the tires can still spin on concrete if I take off fast. Not like they did with the stock tires but it'l make some noise.
I didn't really answer any questions just trying to give you feedback from someone else with a 2wd. If you have any questions ask & I'l do my best to answer or help.