265/75 on a 16x7 rim.

You can get 16" rims all day long for CHEAP. Look out for manual hub'd Toyota or older Nissan factory rims if you like aluminum. I picked up a set from a 2003 SC'd Frontier for less than $150.

Lighter and cheaper rims, plus lighter and cheaper tires = a winner. Also they don't weigh so much that you can't carry a spare (which in addition to its obvious benefits, also makes a handy jack base in deep sand/mud/snow).

265 is plenty wide enough, and not so susceptable to wandering caused by uneven road surfaces at highway speeds. 285s sent my truck all over the place on AK roads.

I like Dunlop Radial Mud Rovers. Cheap and durable, with soft sidewalls (even load range D) and tough treads.