Unless your willing to lose the flares and cut some more, no, I wouldnt do it, looks like your about at max stuff on the front as it is. The rear looks like it will take a little more, but you;d need to cut beyond the pinch weld and seal the inner fender well.
I dropped mine down an inch or so ( shorter shackle and dialed down the adjustable coil spacer in the front) when I went to 38's, but I cut ALOT out of the front and rear and didn't bother with flares. Lower is always good, so long as you can still stuff like you want. BTW I'm at about 7.5 in the rear and 7 in the front and RTI a 976 (30 degree ramp) with the 38's.