$17K... and you want 40's
I'd probably do a:
1 - Rock Krawler 5.5" X-factor coil over kit $4800
2 - Rock Jock rear end ~$4000
3 - Build Front D44: regear, RCVs,Artec Truss, Poly/AlloyUSA BJ ~$3000
4 - ACE Tube Fenders (I'd get the wide ones with 40's) ~$900
** or the Trail Mods fenders for about the same price
5 - Method 105 beadlock 17x9 - 3.5" BS $1700
6 - 40" tire of your choice
* I'd give Marcus at River City Offroad a call to see what he can do to hook you up on what you need.
You'd need a buddy who can weld good for the lift and to for the D44
If I every had $17K and was dead set on 40's, that's what I do.
Good luck with your build and post pics when you get it done