Yeah, hey, if you cut enough, you can clear any tires you want! And hey, while you're at it, why not just remove your fenders and bed altogether?! Cut your doors off!
Now tell me how ya really feel Jeremy! Don't worry, you'll find no Wellsville hack jobs here.
Dangerous? Potentially. Likely less so than drop brackets and body lifts. Experimental? Not really...but not very common, either. A properly executed trim should be unnoticeable except when the trim location is compared to a stock truck. For smaller tires, that may mean no more than removing the spot-welded flange and replacing the flange with a bead. Usually the plastic fender liner can be reinstalled, and the cut is no longer evident...but wheel well volume is improved enough to fit the new tires. We did this several times on my truck...the stock fenders and fender flares never changed, but the truck could take a 35" tire. Similar, less invasive work is not unrealistic to clear a 33" or 34" tire, lock to lock, at full compression...which is where you need it. Being unable to reach full compression when the truck is completely crossed up means you're not getting all the wheel travel you could--your spring rate is too high, springs are too short, or both--and assuming the wheel will be mostly straight over all the hard stuff is silly. Eventually you'll need to turn and climb a bank, and the tires will rub...unless your springs are too stiff or simply the wrong length for your ride height.
Similarly, changing the ride height via the lower control arm angle should be only one of many means to the end of greater wheel travel and more supple suspension, vs an attempt to keep larger tires from rubbing the stock body or frame. The point of trimming isn't necessarily to start building a truggy.
Keeping suspension and tire fitment completely separate allows an owner to tune their suspension without making compromises for tires too large for the wheel well, not to mention allowing tire choice to be dictated by engine and drivetrain vs lift height or fender opening.
That's why I advocate trimming, as much as necessary and as little as possible, to fit a tire vs simply moving everything up with a body lift. Sure, they work, so do drop brackets, shackle lifts, shackle flips below the rail, SAS leaf or control arm mounts hung low...all see plenty of trail time. But, each one of those solutions requires a handling compromise, whereas a simple trim does nothing but allow fitment of a larger tire. It's part of why you'll occasionally find me saying "stop worrying about lift".