The 80 series has about 12 inches of wheel base on the Discovery 1. For performance, the 80 weighs 400lbs more and the 3F makes 33 less horsepower and ~16 ft.lbs less than the Rover V8, which I would consider a wash. A 2 inch lift, camel cut and optionally some spacers can tuck 33" tires no problem on the Discovery 1. I think with 35's you'll have to cut a little more and you'll lose more steering angle, but they will fit. There's a Discovery 2 that runs around here with 37's on it with a bit of trimming and fender flares. I think she has a 4 inch lift though.
Around here, I can buy an LR3 for the price of an 80 series Land Cruiser... or 3-4 Discovery 1's. So far both my Discovery 1 and Defender have been very reliable (although I did rebuild the Discovery motor because I mistakenly thought it had low oil pressure) and very cheap to work on when ordering parts from somewhere like LRdirect.
Anyways, that's a tangent. I've been really enjoying your thread as well as Summit Cruisers Jr's. Almost makes me want a 80 series...