Well if you are planning on going with 31.5" tires on stock rims or close to stock offset rims then you really don't have to lift it. I mounted 31.5" tires on an 18x8.5 rim with 0 offset - they stick out past the cladding a bit. Wormgod has the same size tire, rim, and offset on his. Some trimming around the front wheel wells and cranking the torsion bars up an inch is all that was needed to clear them. The handling was barely affected in comparison to the 2.5" lift I have now. The ride and handling get worse every inch you lift it, obviously. Torque is lost for every inch increase in tire size as well. Braking performance also suffers some - a lift will make you nose dive more during hard braking too. You could try using the 1" coil spacers in the rear and cranking the front up 1.5-2". That would be a nice compromise if you don't want to go for the full 2.5" lift. Or just go for it - you will find your own negatives and positives for whatever you decide to do!
Sent from my "two hands on a keyboard"