You also need to consider the other side of that coin. The lower end of those torque numbers, if you have low low or say 4:1 single low you don't need to apply the power you would have with higher ratios.
You are absolutely correct! One of the things my math doesn't take into account.

So without needing to bring up the RPMs to get the power to stay above a stall (or TC stall) your axles won't experience the higher torque or more importantly the shock loads from wheel spin associated with high gears.
IF you can keep the RPMs down. I have a lot more flexibility in gearing running a M/T with two different ratios in the t-case and doubler and I'm almost always running between 2500-3500 in Lo and Lo-Lo so I'm still close to peak torque. Without having wheeled an A/T with this setup, I'm just guessing that this may be different with an A/T?
Unfortunately A/T guys have to figure in the TC torque multiplication. This is kind of a 'one step forward, half a step backwards' kind of thing.

You do cut the torque output from the engine but the TC isn't (shouldn't be) locked so there is going to be quite a bit of slip.
Now Like Edward said, if you gear for big tires and have said big tires in place you will effortlessly grenade CV's if you are not careful. for example; full lock turn, locked and bound up the slightest bump on the gas will probably result in parts flying in LOW LOW
This situation is to be avoided like the plague. Especially if you're running a solid axle with u-joints as that's where u-joints are at their weakest. One advantage CVs have over u-joints. They're stronger at angle if I remember correctly.
Edward