The 245x70 tire should beenough for your truck. By looking at the way you typed it and your description, I would say your tires are currently bias ply and the extra tire was a radial. That is why the sidewall bulged. It is not recommended to mix radial and non-radial tires because of the differences in handling. Will it work...yes...I did it way to many times...But I have done other unsmart things in my life too.
Far as buying tires. You could probably run anything from a 235x15 up to you 31x10.50 in radial or non radial type tires. All would work depending on what you want to spend and do. I like larger tires. My 70 has 275/60x15s all the way around, while the other truck(my 96) will go to a radial 31x10.50x15R later this summer. My personal opinion is I wouldn't run anything less than a 255/70x15 on any full size truck. Just my $.02.
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