When I got my truck it had the stock 350 TBI, 3.42 gears and 33" tires. It was a very bad combo and I really did not enjoy driving the truck much. Any headwinds and it would constantly shift between D and OD. Couldnt do it. I considered going down to 31" tires (stock is around 29" I believe). Instead I switch everything over to 8 lug by getting a 14 bolt and matching 10 bolt for the front. The new axles were 4.10s. When I got new wheels/tires, I settled on a 32" tire. It looks good, fills up the wheel wells but not too much.
The point, i deterimined through a lot of calculations that my 4.10 with 32" rubber combo was very close to the 3.42 with stock 29" rubber for engine RPM and speedometer. Its a whole different truck, I can drive in OD without issue, tow heavy trailers (still pulls very hard, but much better) but in general its really improved the driveability.