No question that just going to 5.29s is the way to go, and that this is not ideal.

It is more of a curiosity about the way gears and RPMs line up against different speeds. I'm curious if reality reflects the math.

20% difference is about the difference between the 4 and 5 speed transmisisons.
Let me put it this way:
How would this be any different from taking an '80 p/u w/ 4speed tranny, stock tires, and adding water to the tires so the weight was the same as 35s?
My logic is, if the ratio was good enough for Toyota and many other companies to use for many years, and STILL use in auto trannies, then shouldn't it be at least tolerable?

The question really is do you have a weird phenomenon where 35s actually do better than say 33s b/c it re-aligns the gear switch points to something workable?
I can certainly see the trouble getting going, w/ inertia of the tire being so much greater.