I went from 275/70R18E to 245/70R19.5H tires and have about 20k miles on my 19.5's:
1. Even if the tires have the same weight rating, the 19.5" have stiffer sidewalls making a loaded ride better and unloaded worse.
2. The GM trucks can use 225/70R19.5 without modifications. If you want to go up to 245 or 265, there are clearance issues in the front fender wells when at full turn lock unless you make modifications.
3. The 19.5's do well in mud, snow and ice because they cut through instead of float on top. Due to this characteristic, they do not do as well on soft sand or other areas where you want flotation over the top of the ground surface.