The TTB is a ****ty setup to start with but it can be wheeled and enjoyed. I wouldn't spend any money on lifting it though. You can do a good solid axle swap for the same money you would pay to buy a lift kit for the TTB. The TTB is a good foundation for higher speed desert racing kind of stuff. A quick mod to get the most articulation out of you TTB is to just remove the sway bar. check out my Superford site. I've got lots of pics of my bronco stock, lifted, and with a D60 SAS.
The TTB is just fine for daily driving. And maybe mild offroading. But anything extreme will push it to its limits. The best thing I have done to my truck was the 2 inch leveling coils, and they only cost about $130, which is cheap to me.
i have an 80 bronce running a 4" lift on a ttb setup. i didn't do it. removing the sway bars is about the greatest thing you can do for it. i will tell you you can get a good ttb setup but it will cost you. it is cheaper to get a solid axel. unless you have the money to replace ALOT of parts on a TTB.