In low range, with your new 4.24:1, you will have very few problems, if any.
I am currently running the 5.83 R&P's, and 33's with a 16 valve - so I've got two advantages - more power, and SLIGHTLY (13%) lower gearing. I suggest you run the 31's to see what it's like, and then decide if you have enough oomph left to go to 33's based on YOUR driving style, and typical terrain. You will probably NOT be happy with the performance on the highway, in high range, with the 8-valve, and 5.12:1 R&P's on 33's. I know I'm not wild about MINE on the highway, with the 16-valve and 5.83's.