Would you get the same advantages of using a chip to recalibrate your vehicles computer as you would regearing? I'm just curious because a friend of mine is running 37's on a stock axle but he's got a chip installed and doesn't seem to have any issues.

 

There is no substitute for gears in a JK. A chip just make thinks a little easier, but I cannot imagine driving a JK with 37inch tires and stock gears.