I've got the same truck as you, 2010 STX D40 King Cab. I had 285's on mine for about 18 months. Yep it looked great. I do agree bigger tyres kill braking, they do, but I didn't notice any difference.
When the 285's wore out I went to 235/85x16's they're the same height as 265's but thinner.
I didn't notice any improvement in fuel consumption, I was expecting to, but didn't. What I did notice were great improvements in acceleration, turning/cornering and general driveability I guess.
Although I just said I didn't, I have noticed some improvement in braking and fuel consumption, but it's only noticeable when I look for it, it didn't jump out at me.
Why don't you buy a cheap set of 285's, wear them out in 12 months and if you still like how the truck rolls, buy a better set.
I've been up, down and through as steep and sludgey stuff as I would dare and want to in my 40 with the 235's and I've had no dramas. I've banged the underneath a few times, but when I look underneath afterwards I can't even see where I hit.
The diff between 33's & 32's is one inch, but you only get half that as lift as the other half is on top of the tyre. 1/2 an inch is about the thickness of your finger.
4WDing is about thirds. One third is your vehicle, another third is your skill and the last third is luck.
I won't be going back to 285's I have no need.