My old avalanche came w p tires stock. I used only LT on them for the same reasons, cut/puncture resistance. The avalanche weights a lot more than your Colorado so the LT were no problem. I ran them at 45-50 psi normal driving. Off road the lowest I ran them were 35psi and they were fine. When the stock GY need replacing in my GMC Canyon, I’m gonna stay w P tires. I don’t off-road much