I bought and 03 4Runner a couple of months ago, and immediately started looking at leveling kits in order to put on a larger tire size. After much research, and reading on here, I decided to go with the Daystar 2.5 front, and 1.5 rear. I also purchased some 1.25" Spidertrax.
After all the reading on some of the "nightmares" people have come across on the installation of the kit, I was prepared for an all day event....but me and a friend installed the front and back leveling kit, the wheel spacers, and mounted and balanced 4 new 265/70/17 BFG's in under 3 hours. I guess a floor lift and air tools helped out a *little*

I originally was going to go with a larger tire, 275/70/17, or a 255/75/17, but did not want to cut anything, or remove the front mud flaps. With the 2.5 front and 1.5 rear, with the 1.25" wheel spacers, the 265/70's are the way to go! And it does not look too outrageous, but looks more like a 4Runner should.
Thanks for all the info.