there have been a ton of posts on this. if you want in depth discussion, do a search. the info is there.
i run almost 33" snow tires three months a year. they do not rub at stock suspension height, but they are narrower (235s) so i don't recommend them for summer hiway driving although offroad they do pretty well.
don't forget any increase in tire size is also a decrease in braking power the same percentage as the decrease in torque to the ground. regearing cannot fix this. only thing you can do is go to big brake kit or more agressive pads/shoes. you'll notice this when towing that 5x8 trailer if it's loaded.
also, 4x4 cost about twice as much to regear due to front diff labor and materials and, as mentioned, r and ps are difficult to find in the ratio you want for the different years. 4:56 is the most commonly available aftermarket size (read affordable) above the 3.91 and 4:10 available from toyota. 4:30's only available from toyota at high price unless you can find good set used.
all that said, don't forget about the hit to gas mileage if you go wider with taller road stance and more unsprung weight. even if you regear. sounds like a lot of work, money and negative effects just to fill your wheel well. since you drive mostly on road, i don't see much of a performance advantage.
all that considered, yes the tundra does look good with bigger tires. ;-)
