You're not going to find a gear that will adequately cover both of those tires, since that is a pretty huge size disparity.
Opinions vary, but 4.10's with 33's and an OD has worked well for me. With no OD, 3.73 should work okay. A 3.08 really isn't enough gear for anything beyond a stock 31.
To make 42's work, you'll need a gear that is pretty low (numerically high) Anything that is going to turn 42's with a tired 350 and not burn up the tranny is going to be way too much gear for the street on 33's. That's why typically trucks with tires that big are dedicated mud trucks, or don't swap tires. I too am surprised that the transmission and axles are still alive.
A set of 4.56 tons could work, and give you the axle strength necessary for 42's. You still have the issue of not really being enough gear for 42's and too much for 33's without an OD. Maybe if you downsize your weekend tire, like to a 37 or so (think cheap humvee tires), the 4.56 axle could work a bit better. 37 is also pretty manageable for street use as well, so could potentially save you the hassle of swapping tires. Or sell some parts and get a cheap beater to drive daily. Just some ideas.