I have thought that FMVB would be cool but I know after a while I'd wish I could just get in and drive.
After doing some more reading and video watching on the USshift.com setup, I'm thinking I could just go into manual shift mode when in double low (or any low range for that matter). That basically emulates a FMVB. So with the 4 table options I could have 2wd/4hi normal, 2wd/4hi tow mode, 4lo1 (np205 only in low), and 4lo2 (Magnum only in low). Then just turn on Manual mode when I double low. At least I think that's possible based on what I currently understand.
After watching the videos I'm realizing there's a lot of cool things you can do with the trans being electronic.