Deep rims
 

should i go with a deep rims for higher offset on my v8?

If you're in the US, because of the abundance of used factory alloy rims, for many people it makes more sense to use wheel spacers and the factory rims. I wheel mine pretty hard and they're scuffed badly, but haven't failed yet. Some people are more comfortable with steel rims, but they cost more and weigh more. I'd say if you're going as far as bias ply tires, then steel rims make sense. Otherwise, the stock rims are great.

It would REALLY help to know a little about your truck. This and the sway bar question are impossible to answer without knowing how your truck is setup currently, or how you want to have it set up.