Always nice to hear real-world feedback from actual users. Please remember I'm not arguing about this point, rather just giving my personal opinions to further the discussion.
I am somewhat surprised at this comment after driving trucks with both 2:1 (NP203 and 205) and my current rig with the 2.72 NP241. I'm sure the trails are different but my opinion is based off never being in a situation where 2nd or 3rd gear (this is on an auto, so 3rd or 4th with a 4 speed manual) wasn't fast enough............and if I did need to go faster I would go to 4 high. Even so I still had overlapping gears with 1st gear high range still be lower than 3rd gear low range. Again, I'm talking Midwest style trails in which even the easy and straight sections are still usually pretty tight and snake around trees. If you have wide open desert and stuff that requires higher speeds I can see it, but you would also need to be getting into 4th gear (with a manual) before you would see the difference (4th gear and 2.72 is almost identical to 3rd gear and 2:1).
I think you make a very valid point.
Mine stems more from working through my gears as I drive. It no secret I like to beat my junk, so given a strait section in 2 to 1 im starting in 1st gear and slapping my way up to 3rd while on the rev limiter the whole time and trying to keep it strait
This is petty much the case as long as im not tooling around at one speed, on a trail or following someone, which in case, 3rd gear 2 to1 feels just right or 2nd gear 2 to 1.
If I am understanding you right and with a 10 to 1 case, my option would be to leave the both sticks in high as there low would be too much? Thus forcing me to use the 2.73 to 1 then when I need more gear I could not do it on the fly.
One thing that made me attracted to the gears I chose was having a sand gear, driving in 2 to 1, then if I needed more I could toss the shifter from hi to low on the fly. With the sand or desert I think there is more wasted wheel spin that is revving the motor out quicker. I noticed this problem with my white truck when Im bouncing off the governor, the truck thinks its going over 100 mph and that certainly is not the case.
"and if I did need to go faster I would go to 4 high."
my only argument against this is if I needed to go lower "like when I came to a climb or a obstacle" If I was just in 2.72 "low" I now cant shift on the fly, id be forced to stop and put both shifters for the diffs into low. Where as before in 2 to 1, if it not enough, no biggie, just shift on the fly and have 544 to 1, plus 3 gears on the trans to find a sweet spot to keep the rpms happy.
For waterfalls here it seems many also require some wheel spin and not always a just a deep crawl gear. So being able to choose between 2 to 1 or 2.72 to one, then being able to shift up to second or 3rd as my rev limiter requires should prove to be a nice asset as well as simply shifting on the fly as mentioned.
I can say that with only 4.56 gears in the diffs and low low, even with massive brakes it takes some effort to hold it to a stop. I can not imagine trying to use the brakes with 10 to 1
10 to 1 would be a fun gear to get out and just watch it crawl though lol
Shawn's logic pretty much sums up the reasons.... 2:1 and 2.72:1 are different enough to each have value, and the 5.44 is the "stupid low" gear when you want absolute control and don't care how many people are waiting behind you on the trail! 
