I'm looking at a 3.08 to 3.42 or (more likely) 3.73 conversion myself. But I'm keeping stock size tires. For the front, I'd probably just get a junkyard carrier and swap it completely. 3.73 units are available from the 07 and 08 4L60 trucks. But for the rear I will probably change ring and pinion, as I want to swap to a 9.5 semi-float 14 bolt at the same time, and those weren't available in 3.73.
My question to the group: How feasible is it for the DIY'er to change out ring and pinion? I've always heard it's a no-no due to the shimming challenges to get just the right pattern. But I've watched some vids and it seems possibly more doable than I thought. You can get a slightly oversized bearing for the pinion that makes a trial and error approach (by using paint and looking at the mesh pattern) easier. But worst case, I have a coworker that used to run a family transmission shop, and maybe her husband (one of the mechanics) would be able to help me get it set right.