Kind of depends on your intended use. Lots of room here for interpretation.
Main things you need are traction and protection. From there, you start splitting hairs between what you'll need and what you want.
If you're just going to explore, then you'll be better off spending money on gas and tasty beverages than a lift. But if you want a lift, than that is a valid reason for the lift. But you don't need it.
Good tires and armor are always a good start. A rear locker is a great thing; expensive, but it makes a great difference.
Lifts, meh. I went tons of places with just a PML and 32" tires. I've since moved on, but that was a want, not necessarily a need. Now if you want to go on trails just to clear the trail, then maybe skip modding IFS, put in a solid axle with tires to match and have at it. But then again, the X will never be a jeep, so build accordingly. Just remember that only taller tires give you true clearance. A BL will give you clearance for tires, but not increase suspension capability. An SL will change your suspension either for better or worse. Key point -- for wheeling, you want suspension, not a lift kit.
If you're set on a BL, then that will affect your choices on a few things, but not on the underside skidplates. You don't need front or rear bumpers to go enjoy yourself. Again, if you want them, then that's valid too, but you won't necessarily enjoy the scenery any more because you have a bumper.
As far as commute issues, building it right and maintaining it takes care of that. I've got a suspension I cobbled together with 33 inch tires; it rides smooth and I can drive it to Colorado right now if I want and enjoy it as a daily diver. If you bubba it together, you'll have problems.
Hope this helps.
