If it didn't hang out further than the sliders it would be o.k., never seen it done that way. Although if you use your sliders as a step at all, the jack might get in the way.

If there is room on the front bumper to mount up some tubing to act as a brush guard, you could mount it on top of the tubing, might look a little funny.

Bandits set-up looks like a good idea for the trail as well, if you don't plan on adding a swing-out tire carrier.

Another option depending on how tall your roof is, or how tall you are, would be to fab up a safari roof rack(or buy one), and mount the jack on it. Of course this is the more expensive way to go.