Can someone tell me if there are any cons to over-gearing for better power/acceleration? I know I will take a hit on the mpgs but at this point in my life going faster is more important that a couple bucks. I am running the ome 1.5 lift with 235/75/16 tires.

Those are essentially stock size tires, so any change in gears will really overgear you.

As far as cons, none. Aside from the fact that you'll be sitting at a higher RPM at your typical cruising speeds, and the hit on gas mileage. I suppose you can get technical by saying the engine is wearing faster due to staying at higher rpms than intended, but that can be alleviated with reduced speed. Oh and obviously you're top speed will be lower, BUT I can guarantee you will still hit that limiter (unless you removed it) at the 115ish mark.

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2011 Deep Cherry Red KK - Skyslider - JBA/Bilstein Adjust-A-Strut set at 3.5" - OME 731 Rear Springs - Bilstein Rear Shocks - Al's A-arms - 245/75-16 Duratracs - Rock Liazard Super Sliders

Depending on where you live you may not take a " hit " on gas mileage.
If you have any hills etc at all then it would actually pull better without dropping down and changing the gear to a lower one to get up the hill.
Plus you have a Jeep, its not a fast vehicle, never was meant to be, never will be, well except if you go to 4.10s with stock height tires, taking off from a stop light will be way quicker.
As far as top speed will still be the same just running a few hundred RPM more

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MUDD'S MOTORSPORT'S We do IFS lift installs ,
03 OVERLAND EDITION /Kilby-Skidrow-Mopar-4XGuard skids/ 2.5 inch TOTAL CONTROL JBA coilovers -JBA Arms/MOABS-31 FALKEN WILDPEAK AT3W / 4.10's etc, 04 Kilimanjaro Edition loaded, plus 05 KJ limited

That little part is so very true.

At 6200' elevation I have to floor it to keep up with a Yugo but when I go back home at 1000' elevation and floor from a stop light I leave two 12.50" wide black marks for 20'+.

By the math I'm "over geared" on paper running 5.13 gears with 35" tires,4.88's brings me back to almost identical specs as stock but in real life I'm severely under geared for where I live.

Unfortunately I live close to Los Angeles at the moment. I drive in grid lock and on surface streets. Most people out here are total douches. you even turn your head and they are speeding up so you cant get in front of them. My typical strategy is to just get over; l get super close until someone backs off. I definitely wouldn't mind being a sleeper and being able to surprise some M'Fers!