315's with 10.5in rim. Would this help or hurt me?

Definitely go with the 315/35's. I put them on my car and it is the best thing I have ever done. It looks twice as good, and the traction is a night and day difference. I run the Nitto Drag radials and it is my daily driver. I have 12,000 miles on them and they are down to 2/32 of tread. They start out with 7/32 unlike the street tires that are 10/32. They were a lot less expensive than all the street tires available.