As for gearing...
This is not for everyone, but is on list of things to do for my 1996 Suburban K3500/7.4L. Most will just purchase a newer truck
Rebuild/replace the 4L80E with one rated for 1,000 HP (that place also has 2,000HP versions) for about $3.5K and since I'l be nowhere near that rating, it should last
Add a GearVendors 0.50 OD that also has a gear splitter option. That then turns the 4 speed 4L80E into an 8 speed with double OD. IIRC, they are rated over 1K HP
Change out the diff 4.1 gear sets to 5.38 (don't know if they make it for the front, but will research that)
Back to the OP's question and the last few responses...agree...if they have to ask, they are not confident enough, nor with enough experience to make that risk management decision...so asking for others to make up their mind for them...
OEM's love this, as it begets another purchase or two...