personally i like a 2" reciever for a rear recovery point. it centers the load to both frame rails, instead of just one, especially if it's a bad "stuck".
i've seen some guys here use a similar idea off the front of their trucks. they put the recovery strap through both hooks, then insert one end of the strap though the other loop, to make a sort of choker that should more evenly load both hooks. as a plus, a shackle is not required for this connection, especially since most rangers use a "closed loop" tow hook.
chains are useful. tugging with a chain is a very bad idea! there is no stretch to a chain. you would be amazed at some of the things i've seen done, one guy tried to pull out a friends stuck truck with a peice of 5/16 non-graded chain. he had a chain imprint in his tailgate!
tow straps with hooks are useful, for towing, NOT recovery!
tugging off of a trailer ball is also a terrible idea, unless you want that trailer ball though your windshield!