I am also considering adding a beadlock to some 16" TRD wheels and moving to a 315/75/16 tire. Not sure yet. My thoughts are that if I can avoid a gearing change by going with the 305s it would be nice. Perhaps I could save some wear and tear by sticking with a 34" diameter tire and not moving up to a 35". Mostly seeing people either going 295/17 or 315/16, the 305/17 seems to be rare.
Additional suggestions/wisodm would be appreciated!
I've been running 305/70/17 MT/R's on OEM steelies for almost 5 years with zero problems (I'm actually on my second set). While the tire spec's call for a wider rim, they work great on the steelies. They tuck up into the wheel well during full articulation without touching anything, which is a good thing.
I run the MT/R's for off-roading and use 285/70/17 BFG AT's on Mojave Teflon's for everyday use. I usually put the MT/R's on in May for my annual spring trip to Moab then leave them on until late October (I spend June thru September in Crested Butte and then take a fall trip back to Moab in October). I run them at 33 lbs. in front and 31 lbs. in back for around-town driving; 36 lbs. front and back for highway driving and 14-15 lbs. for 4-wheeling.
As to pictures, THIS thread covering one of our outings in Moab on the Behind The Rocks trail has a number of pictures of my rig.
Suspension wise, I have ICON coil-overs in front with ICON UCA's and ICON remote reservoir shocks with ToyTec springs in back. Make sure you get your body mounts trimmed prior to moving to larger tires.