I've always assumed that XLs are passenger car tires with an extra belt or extra material somewhere to allow them to carry a heavier load, but I never considered them suitable for an off road tire for a heavy truck.
I've always assumed LTs and Load Range E are best for heavy trucks like the Land Rover Discovery/LR4. This is based on how I use my truck, which is for every day road use as well as pretty heavy off road use.
I'm running Nitto Ridge Grapplers size LT275/65/18. On my truck I have the load range E1, load index 123 tires. The load range E1 means 10-ply rating with max load carrying capacity at 80 psi (80 psi is also the max pressure). The load index 123 equates to 3417 lbs per tire. These tires weigh 57 lbs each, tread depth is 16/32" (or 1/2"), and they are speed rated up to 100 mph. Cost is $323 per tire.
My same size tires are also available in XL rating. Load range XL means 4-ply rating with max load carrying capacity at 42 psi (50 psi is the max pressure). The load index drops to 116 or 2756 lbs per tire. The tires weigh 46 lbs each, tread depth is 13/32", and they are speed rated up to 118 mph. Cost is $289 per tire.
My assumption that XL tires are passenger car tires is obviously wrong...who is going to put 275/65/18 Nitto Ridge Grapplers on their passenger car? But looking at the ratings, I would expect that they are not as tough of a tire as the LT version. My main concern is sidewall punctures on sharp rocks. I'd love to lose 11 lbs per tire, save some money, and have the comfort zone of a higher speed rating (although I rarely hit 100), but I think I'd see off road punctures a lot easier than with the LTs.
Oh, and laughing at the "265 are pizza cutters?" comment. 235s are pizza cutters!