Going from 3.42 - 4.56 would require a spacer on the carrier, or the carrier would have to be changed
With the 3.42's he has a series 3 carrier. That's only good for 3.73's & taller. (numerically lower. 3.73, 3.55, 3.42, 3.08, 2.73.)
Anything shorter, (numerically higher. 4.11, 4.56, 4.88, 5.13, 5.38.) requires the series 4 carrier.
A spacer is a cheater. A crutch. Instead of the ring gear sitting right on the carrier flange, it's pushed away from the carrier so that it's inherent strength is lost and it's being supported by the strength of the longer bolts attaching the ring gear to the carrier through the spacer It may last a while, but it's life span would be limited. Difs with spacers have a tendency to go boom, dramatically. There's not a whole lot left of them when they do decide to vacate the premises!
How do I know this? Hmmmm. What was worse? Having to put up with the ole man, who told me not to do it in the first place!
I'd say 3.73's with a 29-30" tire would wake that 6 up! The dif. in performance of my '98 after the gear change was night & day!
Anything lower (numerically higher) would have that 6 buzzing too high to be able to go any real distance.
Mileage would suffer severely. Wear & tear on the whole drivetrain would be increased exponentially.
And the truck would just be a pain to drive except for Saturday Night street thrashing. Forget about having it as a DD. Unless the daily commute was only 5-10 blocks!