A local muffler shop said just run the 2 1/2" all the way out. Is 2 1/2" going to be bulky, is it going to give me significant enough gain in performance to bother with?
Is this recommendation based on a full dual-exhaust system all the way back? Or are you planning to cross over for a 2-into-1 setup?
A single 2.5 is a kick-butt system for a mild Bronco engine. Dual 2.5's on the other hand is likely overkill for your stated use and just get in the way of future work underneath the rig. So yes, it's bulky.
Funny how much it feels like that little extra 1/4" of diameter makes a big difference in lost space underneath.
Really though, no matter what size tube you use, a full dual exhaust on a Bronco can be a royal pain, on the driver's side mostly, unless the installer is very, very good.
Which is why most of us have gone back to high performance single exhaust, or a dual but on the passenger side only.
I doubt you'd actually feel any loss in lowest rpm performance (if there is any actual difference) under normal use between running dual 2.25" vs dual 2.5" tubing.
Dual 2.25" tubing has slightly more flow volume than a single 3" tube does. And a single-3 can still support a ton of power! Member MtFit's red Bronco buggy had a single-3" through a flowmaster and shorty headers and could literally roast the 38" Swampers in a mild throttle roll-on. Get the rig rolling about 10mph, push the throttle down and watch the smoke coming off those big tires.
Just to give you an idea of what kind of power a single exhaust can support if it's done well. The 419ci engine dyno'd at way north of 400hp and could rev to the moon. Or to the rev-limiter, whichever came first.;D
Remember too, in any scenario it can all still come down to choosing the right muffler(s). There are compromises to be made between sound (tone), sound (volume), and flow characteristics. Tubing aside, the muffler can make or break the performance of your system.
Or it can make or break your happiness, based on getting the sound just right.
All in all, you don't need the big tubing. It's nice to get it right the first time, it's just not always easy. But uh, no pressure or anything like that!

%)
Paul