A powertrax is a real locker rather than a limited slip. In my experience, it is not quite as agressive as a detroit locker but when it is locked, both rear wheels turn together and it does not easily unlock. If this is going to be a street vehicle, it means that you either need to start every turn without power on so that the locker can unlock one side of it or you need to get used to increased tire wear and lots of extra load on the parts in your rear end.
If you want something that doesn't have the unpleasant parts of the locker, then your options are either a LS, or air or electric actuated locker. Some people have played around with taking a LS and tightening the clutches in it but this will reduce their life.
Regarding the rear end ratio and tire size, I would stick with smaller tires and a 3. 54 rear unless you go offroad. Large tires are for people who want the looks or spend a lot of time offroad. The increased weight and diameter of the tire mean that it takes a lot more energy to change the rotation speed of the tire. This means that your truck has less usable power(I am assuming that the two combinations compared have the exact same final drive ratio which is not true), and it gets worse fuel economy. In my opinion, the 285's ride much worse as well. I have never purchased a set but I would imagine that they are more expensive too.