the first number 245, 265, 285 is the section width in mm (tread width is SLIGHTLY less because of sidewall bulge). 65,70,75 is the aspect ratio (the sidewall is 75% of the section width, etc). Obviously, the last number is the wheel diameter. The 285/70-17 and 285/75-16 are almost identical in overall height, the one inch wheel diameter difference is negated by the change in aspect ratio. The best source for size is the manufacturers website, or from the dealer you're purchasing them from.
Height is the only factor that will affect the odometer/speedometer, width will not. Also, remember that a high load range tire will ride like crap on an empty truck without changing the tire's air pressure as load changes, not too tough but maybe you'll never use a load range G tire's capacity. also, make sure your wheels meet the specs for the tires you're selecting, most are limited by air pressure. ... or maybe they look cool! (major factor in my selection!)