here's what I know from experience
I've had my 84 std cab truck with a 5 speed since jan 85
it has been through the different mods up to what it is now.

I ran 33x12.5x15 with the stock 4:10 gears and a body lift and it was a real dog on the milage and power.
but I drove it that way for several years and just learned to live with it. top speed was around 74 mph

then I got 4:88's and hated them since they were more than I needed for 33's but keep in mind that I had gotten used to driving with the 4:10's

it would go about 92 mph top speed with the new gears and 200k miles on it down hill with a tailwind.

then I got a 3" suspension lift which raised it higher increasing the under body air flow even more and it slowed it down about 4mph

that and the fact that it at that point had 220k on it

I then swapped in a buick v6 and went to 35" tires and the 4:88's were too much gear for the v6 so I dropped back to 4:56's and the top speed now is up around 120 if you'd ever want to drive that fast.

the 33's and stock gears and mud did ok
in the sand they did fine
on the hills they did ok
I did notice that my brakes were wearing out twice as fast
my clutch was replaced more often than it should have been
and I actually smoked it twice
once while wheeling with the 33's and stock gears trying to climb a really steep hill.
and once in the mud trying to use third gear speed shifting to get more tire speed.

since I swapped in the right gears and the bigger engine
it is so much more hyway friendly and with the crawlbox I don't have any problems on the trail.

I will make a suggestion
if you do regear it later go ahead and get a locker at the same time.
you'll really love it with a locker

if I had known what a difference a locker made I would have gotten that over bigger tires and a lift

for about 200 bucks you can get a locker for the rear and it will be a whole new experience to drive

bigger tires help but a locker makes so much more of a difference it isn't even funny. and when you get in those crossed up situations where one front tire and one rear tire is spinning the locker takes over and in most cases you could drive right on through or at least back out.

don't get me wrong the bigger tires made a huge difference
33's compared to stock was like night and day but soon I was getting stuck with the 33's every time I went wheeling
so i bought a winch. then I bought a locker and there have been only a few times where I neeeded the winch for my truck. it has gotten most of it's use from pulling others through stuff I just drove through.

good luck with it
you can get by with 33's and stock gearing
and just remember that it won't be a power house by any means
the new gears later will make it a whole new vehicle when you finally do it.
and be real mindful about the brakes the bigger tires do where them out faster.
if you go mudding take the time when your done to wash it underneath around the rear brake drums
I usually take the little plugs out and stick the pressure washer in there and let it flush it out. or drive it through a creek at least as deep as the drums.
get around the pinion too
pinion seals aren't fun to replace.
and wash out around the cvs and stuff as well as the transfercase outputs.basically any moving parts where seals are involved.
u joints
cv's
brake drums
front brake area
pinion seals
transfer case seals
front engine cover seals
alternator
airconditioner compressor
back of your hydraulic fan clutch
air pump
power steering pump
steering box and steering components
and if you mudding with friends and have been behind them while their slinging it then wash out the radiator fins

most people forget the engine areas and then wonder why their truck leaks oil like a seive. and the third is making a noise.
mud running is fun

it's the clean up that's rough even if you don't have
the time when your done wheeling in the mud
you can put your sprinkler under it and let it wash it out for a while moving it around several times in the process.