I initially purchased 31's (265/75/16) for an upgraded tire and planned to keep it stock height or very close. Like many of us here, that didn't last.
I run 33s now (285/75/16) they weigh 5 lb's more per tire. I also recently got new wheels, which were almost 7 lb's lighter each. So it's a wash essentially. I personally noticed ZERO difference in fuel economy with the taller tires. These older Toyota's are pretty resilient at keeping their rated MPG. GRANTED! I am a 5-speed guy, but I can still knock off 20+ mpg on the freeway. That is lifted an honest 3 inches OVER 99 tall spring OEM height. So 3 or 4 inch lift, with 33's, I love the height/looks.
More so then what looks cool, you need to prepare yourself for some potential item's additionally. Track bar bracket or adjustable, extended rear brake line, lifting it obviously, alignment concerns/getting aftermarket UCA's to get it in spec, gas mileage, diff drop, rubbing, you get the point.
For a weekend warrior/budget minded person, I'd say 265's. If you have some money to spend/like tinkering and sitting up a bit higher for whatever reason, go 33's. My .02 after being in these shoes.
