Where to start...
After having BFG All Terrain T/A KO's in 265/70R17 w/ a Cornfed 3/2 Lift, I have a few comments:
The BFG tires create quite a bit of an irritating sound, don't get great mileage, wear unevenly, and have a very square shoulder that makes cornering on wet pavement not so great.
The new 265/70R17 Nitto Terra Grapplers I put on are more quiet, seem to get about equal or better mpg, look like the tread blocks are more connected and stable, and have a more rounded shoulder.
For me its really about the type of driving we typically do. I'd say 95% of our driving is pavement, the other 5% dirt roads pulling a trailer with dirtbikes and atvs. For me the Nitto is a much better tire for my application. A person who does lots of loose dirt, would most likely prefer the BFG.
One other thing to note: the BFG's tend to hang onto small gravel ALOT. I've driven from Reno in my F350 (which has BFG's) to San Francisco and still had gravel stuck in the tires when I got home. The whole way home every 10 minutes or so you'd hear a rock let loose and smack the fenderwell at a nice high rate of speed.