265/75r16 would be a very easy size to find replacements in, if you blew a tire and a spare around even a fairly small town. Basically every light truck tire I've ever seen is available in that size. There's usually a choice of C/D/E load ratings, too. They're around 31.5x10.0, so, slightly taller and narrower than a 31x10.5.
Beyond that, it's really a matter of personal preference, budget, and what you're planning to do with the rig. Mostly wheeling? Super swampers are hard to beat if you don't mind the hum (and iffy traction on wet/icy pavement). Daily driver that needs to handle occasional snow and trail riding? BFG KO, Toyo Open Country, and Bridgestone Revo All Terrains are all pretty well-liked, with their own die-hard fans as well as dedicated haters. For somewhere in between, people also really like Hankook's all-terrains, and Goodyear Duratracs.
Now, what about the wheels? Well, you're going to have to get custom backspaced ones (with 3.25-3.5 inches of backspacing) to avoid rubbing on your steering components, and you'd probably want a 16x7 wheel for 265/75r16 tires. Summit Racing has some good options for custom plain steel wheels, with free shipping etc., but a lot of them come unpainted, which kind of cuts into the cost savings you'd otherwise have. Alternately, I believe Pro Comp makes 16" and 15" wheels with 2.5" backspacing.
