wheel spacers may cause more rub cause the tires may hit the body more, keep them inside the fenders and avoid this but then you end up rubbing on the frame.  my 31.5 tall by 9.0 tread with ( this is a SSR 31x10.5 tire) don't rub up front anwhere but the frame on stock rims with a body lift and suspension lift, however the rear rubs a bit under a lot of compression and that is with bumpstop extensions added.  if you can install the body lift just buy it and make room for the tires you want the 1st time around, this will also get the body out of the mud and water a bit better, less resistance driving through shit and might help keep some rocker panels on there for a while.  think about what you want and do that once!

Alright, thanks gentlemen.  That's some solid advice/info.  Bzzr2, those are actuallly some good reasons for a body lift that I've never heard before... come to think of it I do have a lot of dents and rust on the rocker panels. I'd like to cover then up with some stainless.

I'm actually having the spacer lift installed at a shop (I know thats lame but I need it for work and plus it's friggin freezing up here!)  Once it's installed I'll go to the tire place and see if I'm happy with the tires I can fit with just the spacers.  If not, I'll hold off and order the BL which couldbe a good weekend project for me to take on.  Then finally I'll pick the gears out but 5.12's do seem to be the logical next step. 

Much appreciated, seriously you guys are saving me time and money.