I for one hope it doesn't go above about 20mph, ever!!! Not to jump on a cliched flaming busload of nuns and orphans analogy bandwagon but- All axle durability questions aside- This truck will be a liability waiting to happen. Yota axles do NOT have anywhere near sufficient brakes to handle 46" Michelins!!! (I would hate to see what his braking distance will be, LOL!) The axles themselves are not beefy enough to handle more than cruising the mall with 46" tires, and I shudder to think what all the 20" lift is comprised of if the only worry point is whether Yota axles will handle 46s!!!
My opinion: Drop it down (a LOT!!!) and throw some halfway reasonably sized tires on it, you'll have less $$$ involved and a better, safer, more capable truck as an end result!!!