Will work as long as you dont air down too much while wheeling. If you plan on getting 12.5" you wont have to swich wheels. BTW kinda odd size..33-10.5?
Thanks for sharing photos, I really like that size of tire. I have stock wheels, not sure of width, will have to do some lookingI recommend a 7" wheel with the 10.50 wide tire.
I routinely air down to ~12 psi for offroad without any problems, as I still have a 3.5" difference between the wheel width and tread width.
With an 8" wheel, you only have a 2.5" difference. This can cause you to lose the bead seat or pack the bead with mud/gravel, making airing back up impossible without cleaning the bead. (BTDT )
Here's a couple pics of 33x10.50 MTs on 15x7 wheels with 3.75 backspace and Rubi flares (stock flares in the first pic).
http://s3.photobucket.com/user/lynn225/media/Tioga Spring 2012/JeepKamp049.jpg.html
http://s3.photobucket.com/user/lynn225/media/Spring Tioga 2013/100_0789_zps3197c76d.jpg.html