I ran 31's (HT, not MT, so a bit smaller than MT) for about 2 years with the stock gearing (4.10). Now I have 4.88 with the same tires, but I am planning to go up to 33's MT in the near future (I regeared for 33's).
Regarding 31's with stock gearing, you will have to downshift to 4th at highway speeds if there is a headwind or if you are going up an incline. Other than that, it drives fine, so feel free to go ahead and do it...
Felipe