Increasing tire size is going to negatively impact performance. It in effect makes your gear ratio more mild, hence requires more pedal to get the same output/performance.
Installing an exhaust may cancel out the effect of the tire size increase, but I'd say it's going to be something you'll have to do to see just how much it impacts your truck.
I installed a Magnaflow SIDO on my '05 w/ 4.6L and I immediately noticed better throttle response and an improvement in performance; but, it was the only change I made at that time, so the effects were easy to notice. I can tell you though, the sound is great. I do not find it to be annoying 98 percent of the time and have not noticed any increase in mpg since I'm probably on the gas even more just to hear it.
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Current mods: AEM Bruteforce CAI, Magnaflow SI/DO, Gryphon-87 & 93 tunes, Harley head lamps, tinted windows, lower grille filler, and FX2 lower valance.
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