I've done them both ways. In my opinion, I think the white letters out gives the truck a more classic look, but they look out of place on the newer stuff.
On old truck blackwalls say work truck, or too cheap to buy the rwl tires. Gene
My '75 PW (that I bought new) had the 31-10.50 package from the factory and the tires were blackwall.
Not sure when white letters were offered.
My next 2 new ones ('78 that was stolen & '79 Adventurer that I replaced it with) both had 235s? in blackwall and I never considered them to look like a work truck.
Of course, on both trucks, as soon as I saved the money they both got 10" wheels & 33" white letter tires.
Tim