I have a 1997 Montero LS with the 3.5 motor. I love this truck, but i am a little disappointed with the stock ground clearance. I am going to put on a little larger tires than stock, i don't want to go much bigger than 31's or maybe 33's, gas milage purposes, but i want to gain a little more. Does anybody have any idea of a reasonable lift kit or some type of trick to raise my Monty?

 

31's will fit stock! No lift required.
33's will require a torsion bar crank and possibly (not 100% sure) and 1" coil spacer in back or a longer coil. You'll also need to replace the wheels and use one with a offset that brings the wheels out farther from the body for a wider stance to get the necessary clearance (when turning left or right).

Alternatively you can also do a body lift.

One other thing, 33's will affect the performance and gas mileage since you'll effectively be geared higher (loosing torque, etc.) IIRC, they do have 4.88 R&P gears (mitsu only) but don't quote me on that.

IF you really want to go big, do a 3" lift and put 35's underneath. You'll definitely want to get new R&P's though and possibly upgrade your xcase gear to a 2.89 ratio gears available through "Misterbishi" in Australia.

For those that have the 3.5DOHC engines (94-96 SR's) then 4.90 R&P's defitely exist as well as 3.51 xcase gears gears.

HTH.