Joe Becal's Cancer Centre of America's LX570 Baja truck has 35" x 12.5" tires on it. They stick out about 3/4" to 1" with the TRD stock offset 17" rims. They cut about 1" from the front fender and also rolled them in order to stop rubbing (I think it would be on articulation).
Also...I know that Arctic trucks is using a 17" x 10"wide Hutchenson rim with about 30mm offset (instead of the stock 60mm). They have to cut the front fender to fit the wheels, but then add fender flares. I'm sure they would answer questions if you sent then an email.
My biggest concern after rolling and/or cutting would be to re-install the wheel well cladding. Not sure how to troubleshoot that easily, but I'm sure it could be done. I think once my rig hits 5 yrs old or about 100,000 miles I may play around with that a little. For now I am happy with the 33s and stock offset. It drives fast, and parks anywhere.