A fellow Tasmanian! Welcome
Agree very much with Dave, tyres first, BFG KO2s of course
If you are going off road at all my opinion on first mods (other than tyres) is always bash plates.
No snorkel and diff breathers? Just don't go in deep water.
No lift? Hopefully just get hung up with minimal damage.
No bash plates? You drop the vehicle on a rock you didn't see and crack the sump leaving you stranded.
Not sure what MR is like the factory sump guard on the MN was like tin foil.