So, I just got done doing this to my 2004 Z71 Tahoe. I came across this thread and then found some take offs for pretty cheap from a 2021 Silverado. Initially a tried putting them on with my stock 17s. I could have gotten them to work with some grinding of the caliper or a spacer as many have done. The lip on the side was not a problem, just the radius. But I found some takeoff 18s that fit beautifully. The tires sit a bit wider with the newer rims, but it works good.
As far as effectiveness, I decided to experiment a little. I put on one side first and took it for a short drive. I expected with the bigger brakes on the one side it would pull to that side when braking. What I found was that with light braking, there was no noticeable pull, meaning the braking was pretty close to the same between the old and new rotors. However, when I tries medium and hard braking, it did pull toward the newer brakes. It wasn't a huge pull, but it was noticeable.
Once I got both calipers installed, I tried it again. I do notice a little more effective braking. Is it a lot? no. But it is there. I would say it's a nice upgrade. They certainly look cool. and I can see how pad changes will be even easier.
TLDR: If you're doing normal driving, it's nice, but not drastic enough to change anything unless you have to anyway. It will definitely help if you are towing.