Price for 5lug tires/lift/wheels done right?

Like everyone else, 5 lug lawnmower tires are bothering me.
Don't need 4wd down south though, and I'm glad I saved $4k on the truck vs a prerunner

I was wondering how much it should cost me to get a small lift installed (ReadyLift kit maybe? What's best?) plus some 16" wheels, and maybe 265/70R16 or so tires. What else would I need to do with this to do it "right"? Is regearing necessary for that tire size? (Calculator says +2.9" diameter)...

Also, would a lift mess with the structural integrity of my suspension or anything?

 

regearing insnt necessary also fatbobsgarage.com has a ready lift shipped for 179.00 also on a five lug you can do 15inch rims with 31inch tires heres a pic of mine so far with 235/75's until i get my 31's

 

here one with the 31's that looks sick

 

the only thing with the 15 inch rims is that with the backspacing the caliper rubs the inside of the rim but if you drive a couple blocks it sands the caliper just a hair, but 15 inch rims are cheaper and also 31's are cheaper and wider.