Hey Jimmy -
I run the 40 Series Big Joes on the 40 series wheels and the Big Joes kick ass and are my favorite large off road "all terrain" tire. Common thinking would dictate that larger tires are prefferable for serious jumping as they absorb more of the intital impact. IME this seems to be the case. As for decreased speed, I guess it depends on how you define "drastic"...lol. It's actually the combination of increased mass and increased dimeter that slows your truck down, like running larger wheels on a sports car or larger wheels and tires on a truck. It's all give and take. So, Yes the larger tires slow your truck down some but it's really a moot point as your generally using them for offroad. Also keep in mind that offroad your tires are slipping more and your not topping out your RPMs as much as a high traction surface.
You can't go wrong with Big Joes.
EDIT - FYI, I wouldn't Run 40 series Road rage but regular 2.2's as what's the point on-road.
Peace