Mounted the BFGoodrich All Terrain 235/85 R16 on the truck. Tire is 1 1/2 inch smaller than the original tires. No fit problems with the 16 inch tire/wheel. Cost was $220 for tire on wheel, I paid $75 for the wheel earlier.
Now that I bought one tire, I have found the BF Goodrich 255/85 R16 that is the same diameter as the 7.50x17 - 33.5 inches. $1295 for four mounted and balanced includes four Accuride #29576 steel wheels.
If I were driveing this truck a lot on trips, and might put 60k on it in the next 5-10 years, the 19.5's might be a better choice.