i got a hold of a 89 jeep waggy rear with 3.31 gears in it. I was told to run 33's or 35's that I would need a 4.88, what is the diff in power between the two?

Enormous. Your truck would really struggle with 3.31 gearing, plus remember, you need to match the rear ratio.

yah i know both gears have to be the same thats why I'm going with the d44 in the rear to save money on the gearing. any tips on good prices for good products. I found on ebay an open diff but I never heard of Aussie lockers before, $150 + $50 shipping

So your going to same route as I did. Your not going to save that much money going with a dana 44 out back. I've got 500+200 just in lockers and gears in my rear dana 44. I have the same amount of money in the H233b(Detroit locker, 4.56 gears) I swapped out.
I chose to swap in out the H233b, no because it was cheaper or anything els.

If your going to put in a locker out back, go with a lock-right or detroit locker. I'll vote for the Detroit locker. An aussie locker is identical to a lock right.

As for the gears go, I went with 5.38's and I'm running 35" tire.

Ok, lets say the only tire size you'll ever want is 35's. 4.88's would do, you'll just be a little under powered. However There's probably going to be a day you'll want to go with bigger tires I would definably got with 5.14 or higher. You'll be glad you did.

If you have any question feel free to post them up or send me a PM. Have you thought about how your going to do the parking brake?