From the pictures, you truck doesn't appear to be as 'low' in the front as some others. Maybe it's just the pics?? On some models, such as the LWB Tradesman Series, the front ends being lower seem to be much more pronounced. On those, the 4x4 models appear as low as 2WD models. In fact, my brother mistook mine as a 2WD! The fronts are low enough and with the air dam below the bumper it would negatively affect off road capability if one were bobbing around logging roads, or farm ruts. The lower air dam is at risk of getting snagged on a rut or high rock! During normal use, one could be pushing snow trying to get into their driveway after the snow plows come by and pile it in front of the house.
Normal design conditions would have the axles running straight (parallel to the ground), the majority of the time. I would anticipate accelerated half-shaft wear after lifting a truck due to the axles continually operating at an angle. The greater the angle the quicker the wear. Might not be 'that' great of extra wear if only lifted a small amount, but there's going to be some just because internal axle parts will need to move during EACH axle revolution.
I just left my truck as is, but for purposes of utility, I can see why some might want to raise the fronts.
Yer truck looks nice BTW!