If I may chime in, IMO Icelandic off roaders are a breed of their own, and second to none. They know what they are doing and don't just slam bigger tires on, they do the whole package, axles, gearing etc. If you notice they manage this without raising the vehicles unnecesarily thus retaining a good COG. The Icelandic terrain is very special, lots of ice and snow, but also a lot of loose volcanic gravel, but almost no trees, so big and wide is not a hindrance.
While huge wheels might be a hindrance on an expedition vehicles in other parts of the world, just think about all the roads out there that are just tire tracks, really big wheeels would ride the edges and you would have to steer all the time, they seems to work great on Iceland.
The tracks in the vid slows you down conciderably, they have a lower gearing, and they are not as good on pavement as a regular wheel. Lastly they are hugely expensive!
I found a vid that might seem a bit boring, but IMO it illustrates that the Icelandic concept work, and that the trucks are very well build, just look at how effordlessly it does what it does without ever goiing out of idle:
http://www.youtube.com/watch?v=G9C1-clYaVI&feature=related
Actually, many of the "tundra 110's" in Iceland and elsewhere do not upgrade axles with those big-*** tires. The tires are to spread load/weight and "float". The axles don't encounter the tremendous torque forces that are "forced" upon other axles as snow and ice don't lend themselves to that kind of driving style. Take one of those trucks and drive/crawl it over rock and dirt for a while and you'd snap an axle in no time! They are "built" but in a different way. The object is to get as much tire on as possible - articulation and HD axles be damned!