Hadn't actually thought about that, I'm running 225/70r14's right now. I want to find some 15" rims for the sole purpose of actually being able to find tires for the damn things, it seems like finding a 14" tire is about has hard as finding any other parts for 1st Gens.
Are those the 225/70R14 in your profile page picture? They sure don't look like it. Maybe the ones I had on my 84 were 75 sidewall, I'll have to go out and look when it isn't raining.
Either route you take, lift or stock, I'm with 85... Give up on the 14s. That's the very reason I exchanged the Magnum 500 wheels I loved for the stock '99 model 16" Ranger wheels. Tire availability for the 14s has dried up. I wanted to move to 15" Magnums, but prices and availability on 16" tires made them the better deal. As far as used tires there are a lot of cars and trucks out there that came stock with 16s, therefore there are a lot of used tires for that size available. Used 15" tires in any truck size are hard to come by, I know I looked for them for quite a while before breaking down and buying new. Its hard to find a two much less a set.
I was more meaning that generation of F-150 than all F-150s. It's not limited to your Ranger, stock for stock, most other generations of 150 looks small sitting next to that one. I don't consider those trucks any more. Sure the Raptor has some offroad DNA forcibly injected, but that was an attempt by Ford to prove that F-150 were still trucks. That was a forced mutation, that all the rest wish they could live up to. They are soccer mom SUVs with a really big bed, probably about 3 generations away from loosing all of it's truck heritage. Sorry I just don't like those new F-150s, but to be honest last year model I liked was 96.
I still think you are better off in many respects keeping this truck as is. Larger tires increase wear on an already old drive train and suspension. They are harder for then engine to turn. Can decrease gas mileage. Quickly lead to other more expensive mods to support them. If you want to lift it wait until you are in a better spot financially (not budget this, budget that, budget the other) and can afford to have down time on the truck. I've seen it enough times to know what's going to happen. Lift and larger tires leads to more lift and larger tires, or more power, or more breakage. Even if you work hard to avoid the first two that last one will get you at the worst possible moment. All of them will require more down time and money.
Hell the only reason I ain't took Rusty in the mud as it sits right now (I know, I'm a moron lol) is because there ain't no good mud holes in my neck of the woods.
Dude you just need to save your pennies and get a cheap beater truck. Keep this thing for a driver. Don't have to be much, or even very road worth, just something that you can pick up cheap and running and thrash in the mud holes. 2wd or 4wd doesn't matter, just as long as its cheap enough that when you kill it you won't be out much. If you want to have fun in the mud you need something you can beat, thrash, and scrap.
Oh and from one southern boy to another, mud holes ain't got nothing ta do with being southern, boys everywhere like it. Grew up due east of Columbus (well almost), middle of the state, and maybe 30 miles from the biggest mud pit in the area. Personally I'd much rather be on a dirt road or trail going somewhere. Unfortunately, there ain't any good places for that locally either.