Yes all those mods you want are relitivly easy...
I also bought my very first VX with the sole purpose in mind of cutting out the fenders and going with HUGE tires....Thats why I liked the cladding...its easy to hack up...
I ran 36" tires for years with no body lift..I have a 2" diff drop, OME 919 rears, OEM isuzu shocks..I removed all the plastic inner wheel liners and took a sledge hammer to the parts that were in the way...I am running 35s currently, and think they are the limit for the CVs on Rocks...in mud, snow or loose terrain, 38s would be doable....
Its funny reading where others say this and that isint possible....from behind there keyboard...
some folks can type alot better than they can use a wrench or a welder I guess
My next set of tires will be at least 37s ....and I am completly upgrading the front IFS as well...much larger axles, CVs, diff, brakes, berrings...ect...Dana 44 stuff...
To fit my 37s, and allow maximum articulation, I will be "tubbing" out the rear fender wells...and in the front I will be eliminating the inner fender parts alltogether....
Any way....get the VX and do what you want to it....it is a great platform for modifacations....
And you DO NOT need some damn SAS