The most import issue from a former redneck who has put dem der big tars on Jeeps and Truck is, AXLE RATIO. You can't bend physics.
The Speedometer being off is right and so is slower acceleration and braking hampered. I have trimmed wheel wells. No biggie esp on Chey as it may already be rusting anyway.
For starters I have put 31.5's on Jeeps with a 3.73 axle ratio and used a cammed built race V-8. The extra power did not notice the tires.
I used the same tire on a 318 Dodge 4 WD and lost power.
I put 33's on a 6 cylinder Jeep and It did not have the power to do much. I gave the jeep to my son, he is going to put stock sizes back on it.
Open your glove box door, on the bottom it will give you your differential code from the factory. I read it is most likely a 3.42 or 3.73 for most 1/2 tons in 82-82.
CODES:
GQ1 -- AXLE REAR, STD RATIO
GT4 -- AXLE REAR, 3.73 RATIO
GT5 -- AXLE REAR, 4.10 RATIO
GU4 -- AXLE REAR, 3.08 RATIO
GU5 -- AXLE REAR, 3.23 RATIO
GU6 -- AXLE REAR, 3.42 RATIO
G80 -- AXLE REAR, LIMITED SLIP (POSITRACTION)
HC4 -- AXLE REAR, 4.56 RATIO
Read this one for max tire size vs differential ratio. It basically says if one has stock tires and goes to 33" tires one needs 4.10 or 4.56 axles.
Choosing The Right Ratio - Four Wheeler Magazine
Will 33's work on your truck with standard axles? Probably, is it a 305 CI Chev V-8? It will struggle. It also is rough on the tranny, sort of like starting out in 2nd gear.
With all of the stuff said I have used bigger tires and was not happy with performance but made do.
And if your truck has lots of miles the tranny might heat, slip and fail sooner.