You will be in worse straights with ANY tranny with a granny gear. The granny gear is basically useless onroad. In essence, you get a 3 speed tranny out of the deal and will only make the matter more pronounced. Offroad, it will kickass.
For onroad issues, you need to regear the axles. In my FJ55 with 35s, I regeared to 4.88s. I chose 4.88s because I've got an NV4500 and 35s were a "in the middle tire" as far as gearing went. 4.56s were a bit high and 4.88s were a bit low.
FWIW, I ran a 5.0l TBI, SM465, 4.11 gears, and 35s with no bogging issues on road.
On the SM465, I had no issues with the way it shifted. Mine shifted smooth as butter. It sure didn't shift quick like a sports car but then again, suprise: a cruiser is NOT a racer
