I did a QuadVan conversion a year ago.
5.4L V8; 4R75E trannie.
Original axle ratio was 3.73; I converted to 4.10.
Lift is about 5".
No issues at all; I'm totally happy with the conversion and subsequent performance.
Doing the math:
In my original configuration, the V8 was spinning 1732 RPMs at 60mph, in 4th gear (OD).
Following the conversion, with the 4.11 gear ratio and 32.7" tires, I'm at 1774 RPMs at 60mph--just 42 RPMs more than stock. The engine and trannie do just fine in this configuration.
If I had gone to 4.56 gearing with the same tires, the V8 would be spinning at 1968 RPMs at 60 mph. That motor loves to spin up, so that would not be a problem at all. It would increase available horsepower--but it would also decrease fuel mileage. The tradeoff was not worth it to me. I'm totally happy with what I have.
I didn't run exact numbers for 35" tires, but the following numbers are very close:
4.11 gearing: 60mph = 1657 RPM. That's slower than stock, and would create a horsepower loss. I wouldn't do it.
4.56 gearing: 60mph = 1839 RPM. I suspect that would work, but I do not think it would be as functional a balance as is provided by the 33" tires. I think the 35" tires are going to create a horsepower drain, and the higher RPMs are going to suck more gas. At least for my use case, that's not worth it.
I hope this is helpful.