Wheel Differences

I am wondering if the folks who know rims & tires can comment on this...

Is there a ride diffeence between the 16" wheels versus the 18" and 20" wheels?

I have the factory 16" wheels, with the Bridgestone A/T 33" tires. I like the 16's because it allows for a tire with a high side wall. I don't off road yet, but feel that the higher sidewall that comes on a tire used with the 16" wheel is more beneficial to the truck as far as keeping things that may chew up the rims farther away. Like a curb, for example.
I also think that the larger sidewall gives more of an air cushion to the truck in normal road use to allow a smoother ride.

With the 18" or 20", wheels, it seems that the tires needed for those size rims have less of a sidewall, and may give a harder ride since there is less of an air cushion, and will also allow more debris to come in contact wit the rims that can chew them up.

I have been asking a lot of wheel questions lately because even though I like the factory 16" rims, I don't like having a Hub Cap. I think the truck should have the same wheels but with an open Hub and exposed lug nuts. It's just my opinion of course, but I have read that the off roaders remove their hub caps to keep them from getting chewed up.
Seems like The 18" factory wheels solve this problem, but then you need to buy 5 new tires, and I think The 18's come in a polished chrome only. That wouldn't be a good investment for a truck that gets used off road.

Any thoughts?