in all reality, a bmc should be all you need unless you want to run 35s.
relocate could have the same downside as bmc, depending on the way you approach a bmc.
some kits cut the rounded front side of the bell and weld a flat plate over to get a little (1/2"ish?) extra clearance (1st pic)
some kits cut off substantially more of the bell on the outside of the body mount itself (2nd pic), which would create a similar downside as the relocate.
that is there's more potential for the wheel to be directed back toward the cab rather than deflected outward in a head-on collision. I can't say whether this is a real concern or not, but i can see how it could be.
3rd pic of relocate for reference, the entire body mount is cut off a replaced with a kit that is welded further back on the frame.