The general consensus is that 1/2 stuff is ok for 35". Some people are very careful and get away going bigger than that without breaking too much. As a rule of thumb, if you plan on ever going bigger than 35 geat 3/4 or 1 ton axles. It has also been said that 35" tires with a 12 bolt have the same (if not more) ground clearance as 37" tires with a 14bff. Some food for thought.
As for gear ratios... if the tires is a true 35 inches, going with 4.56 gears will be very similar to running stock tires with 3.73's. I personally have tires that measure just under 35 inches and I opted to go with 4.88's (getting installed next weekend), but I also plan on going with an overdrive transmission in the not so distant future.
As mentioned it is a matter of personal taste, type of driving, and driving style