As you can see with Sneaky Ninja's setup, it is possible to fit a winch within the confines of the rig by mounting it between the frame rails. You may need to relocate some of the things down there though but having done that, you can then go with a lower profile bumper and reduce the lost clearance of a big massive bumper like the ARB's TJM's, ECB's, etc..
It's what I would have done different had I to do it all over again. As it currently stands my winch sits on top of my bumper and extends past the front of the rig by ~7-8" and I could have had the bumper nearly flush with the grill (by chopping and revising the frame rail ends/aka frame horns).
HTH.