I have a 2.5" lift on the front and an add-a-leaf in the rear of my 92. I trimmed the front fenders a LOT and will do more. Right now I've got some 36x12.50's on it on plain white spoke rims with generic backspacing. It flexes enough to get me where I need to go. The tires rub on the bottom of the rear flares under full flex so I know you can fit 36's in the rear without cutting.
The front is a tight fit for anything bigger than a 33 unless you lift 4" or cut the metal. I've got more mods on the way, but I can get a lot of places people don't think it will go with the current setup. Crossover steering is in the works someday, but I might either start a different rig, or go to 60 front before I do the crossover. So far the factory stuff is working very well. I'm now at the farthest point that going "Cheap" can get you. Everything from here on out, is going to require custom fabrication, or spending more money.
4.56 gears are o.k. up to 35's, but 4.88's would probably have been a better choice since the TBI engine is a real weakling, even in 360 form.