Grand Cherokee all the way! If road comfort and off road have equal priorities there's simply no comparrison and an inline six is not a V8.
May suggest you recondider your year. If I'm right 98 was the last year for solid axles but still an excellent road ride but superior off road capability. 99 was the last year for the bulletproof 318. Of course, the 360 is every off roaders dream engine for the Grand Cherokee but hard to find.
The box Cherokee is an unbelieveable vehicle with an outstanding reputation but in weighing general use the extra room, ride, towing capacity, and power of the Grand Cherokee simply can't be beat. The Cherokee is a half way measure and if off road is your only criteria go with the Wrangler and call it a day.
Drive on of each and you will see what I mean.
Dealor wholesale, you are't talking but a few hundred dollars between the two and for that you get $1,000s of dollars of options thus a better buy for the dollar right now.
Tj