Tires are part of the driveline and tire size factors into your final drive ratio. Without changing anything else the larger the tire the higher(numerically lower) your final drive ratio is. As an example if your truck has 3.55 gears going from stock to 30" tires changes the effective final drive ratio to 3.28, 31's makes it 3.18, 33's make it 3.0, 35's make it 2.82.

The tire size change won't affect engine HP but the taller gearing will make it seem like it lost power, it actually does reduce the amount of torque reaching the ground so acceleration will be slower.

The brake failure warning is a bit overblown but larger tires do put more leverage on the brake components and it will make them less effective.. though like everything else the amount of braking power lost is proportional to how much larger than stock the tires are. In the big scheme of things you probably won't notice much difference.