I did 4.56's in my truck and I wouldn't go back.
I do have a Chevy Big Block and a TH400 with 38" Michelins. I can now drive up to 65 no problem and the transfer case doesn't heat up nearly as much with the lower driveshaft RPM. Off-road, I haven't noticed any significant difference.
I am not sure where you'd end up with stock tires and driveline, but it would still be a major improvement if you plan on doing any real road time. You won't regret doing it.
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