I'm running 3.73 gearing with 35" tires. It generally sucks, but you'll survive.
The hardest part is when crawling.
Everyone else is _crawling_, but you're pumping up the rev's to get the tires to move.
This can cause accidents, when you intend to slowly move an inch or two, and you don't have your modulation down well (if an auto - I have to use both feet to keep the vehicle under control and doing what I want it to do) you may rocket into that rock.
If you've got the dough, go ahead and re-gear, you'll like it better. If you don't, don't, and you'll be ok, just won't spend much time in O/D (if an auto) around hills, and you'll have a little learning curve on the rocks, or the deep sand.