I priced regearing my Alpha, it came to $1,000 for parts and install - however, I get big discounts so figure $1,500. In the end, I decided it was cheaper to repower it and put a front locker in it.
I tend to disagree about the "absolutely required" to regear. It really depends on how/where you wheel. In my Alpha Adventure (and I had an 07 Adventure too, so this is not speculation), the low range is pretty much useless for the wheeling I do. Even if I started in 3rd gear (auto), it'd still be too low a gear to really effectively use. Putting 35s or 37s on it, and that could actually make the 4:1 case useful for the wheeling I do I wheel in snow, mud, sand and on fire roads.... there is precious little rock crawling where I live, so the 5:38/4:1 gear ratio isn't something I'd use. However, flotation is everything for me, so the wider and taller the better.