While I was thinking the steering rod was moved to the front on the second series, I will give you what I know based on the first series with the steering rod aft of the front axle.
You're right on the setback. I would get the tire size dat of both your current tire and the new tire from
Bridgestone Tire . Then crawl under the truck and measure to see where you are and will be. The 16" wheel will be 1/2" more radius than the 15, check this in relation to the tie rod end, too.
I don't know what you're getting for rims, but you might want to consider going with a little less backspace. As for tire clearance to the fenders, I think you'll be okay. I mocked up some 7.50R-16 on my 3/4 ton front end, and came up okay. Tire is about the same diameter as what you're looking at, but a bit narrower.
Anywhere you can buy locally? If so, they should be able to help you a lot on the fit of the tire and wheels. Also, don't be afraid to put taller tires on the back than on the front. That way you're always running downhill, so you can save some gas!
