The cost is worth it for sure when you figure in everything
Power, running cooler, easier on your transmission, power, gas mileage
Good example my 04
installed 32s could not even run it without being in overdrive all the time,
mileage dropped from 20 to 15 ,
regeared ( using front and rear diff from a 4 cylinder gasser )
went back to running cooler again, gas milaeage at 75 plus went back to 20.5 -21 easy and didn't have to use OD all the time
Same thing with my 03 , 265-70-16s which are same height as your 31s ( 30.6 inches tall ) regeared to 4.10s using 4 cyl diffs again
I get 20-21 easy on the highway, tows a trailer way better , temps stay at 197 all the time etc
In my book it is worth it, of course I build mine for every day driving, off road when I want, or take off on a 10-12 hour cruise to somewhere warm and sunny with good drinks ! LOL