Ok, so went ahead and purchased a skyjacker 4inch class II lift because I found a website that had a killer deal ($1650 with nitrogen shocks!).
First off I have to say installation was a BITCH! It turns out that 1984 bronco II's have a slightly different frame than later models and a completely different transmission crossmember design! This made installation of the long arms a lot more complicated than it should have been and was a real show stopper! It also didn't help that they sent me 2wd ranger class I instructions, but ironically the 4wd class II instructions weren't much better. Also, The original shackle bolts are too big for the skyjacker leaf spring bushings! As if that did not suck enough, I ended up two bolts short for the new radius arms!
Despite these pains, the end result definitely justified the means. 4 inches of lift, bushwacker flares and 35's look right.
I may try to post a picture later, but the only picture I have is on my phone.
For those who were wondering a 7.5 is not remotely close to being up to the task of handling 35's! I broke my rear ring gear only 9 days after the lift and tires, mind you this was with a wheezing 150,000 2.8l v6! It turns out a half-assed attempt at a low range burn out in a parking lot is enough to destroy a 7.5 with 35's! Time to go get those explorer axles.