Good choice on the 31"ers. I went from 31" to 32" in my 2000 4runner V6 4:10 and noticed some power loss. I stayed away from 33" myself. I was wheeling the same trails that guys with 33"s were doing. I'm taking the same lines that my friend does with 33+ and making it.
You would have hated 33", 4cyl, 4:10. You start going up some mountains and you would be pushing.
I hear ya. I would like 32's ideally, but BFG doesn't make them except in the 32x11.50x15 size and I want skinnier tires than that AND I want BFG (all-terrains).
I'm still debating. 31" makes sense, but I hate to buy tires twice. Even cheap used ones. I am actually thinking now, that I might go 33" and suffer until I can get some used 4.88's. Worse case scenario, I have to wait until summer to install the new, used diff's.
4Rescue related his experience with the same setup I'm looking at. Basically, 2nd gear up the mountains and 5th on downhills with a good wind. Not my favorite option, but like I said, I can swap gears this summer probably, with some help, using used equipment....an option I didn't really consider until I got some good advice on here.