I'm driving an 03 Tacoma 4x4 and I am getting a 3" body lift so I can put some bigger tires in the well. I've been all over the internet looking for a reasonably priced lift and
www.toyteclifts.com has the best price (under $200). All the body lifts do the same thing, the question seems to be how much are you willing to pay for the brand names. Personally I don't care about what brand of lift or tire I get on the truck, just that any additional equipment I install will be durable.
Right now I've got the stock 265s with the 16" rims on my truck. After the lift I know 285s will fit in there comfortably, maybe 295s.
I do know a couple guys with 00 Tacomas who didn't lift them and stuck 275s on... there's a little rubbing in the back of the well in a 90 degree turn, but other than that, nothing remarkable. If you can deal with that, you should be good to get a slightly bigger tire without springing for the lift.
If you do put on a bigger tire with or without the lift, let me know how it works out for you. I'm considering all my options. Thanks!