I just put 245/70/16s on my Stock KK sport. I think you will run into some other issues with the 75s but someone might chime in with a little more info. I had to trim the front side of the plastic to avoid the rub, but if you have a heat gun you could also heat up that cowling and just push it out to avoid rubbing. I plan to go back in and cut a little bit more of that hole. I'm basically gonna follow that line that circles around the attachment plugs just because when I was wheeling this weekend I thought I heard some scraping in there.
Pic of the front side cut:

The pinch weld is on the back side of the wheel well, and this takes a little more effort. Basically the pinch weld is where two flat sheets of metal are stuck together and are part of the body/frame. It is essentially one vertical sheet about 1/8" thick. You can't actually see the pinch weld because its behind the plastic wheel well. I'm gonna tackle the pinch weld project this weekend and I'll be sure to get some pics up. I plan to do the following: Temporarily remove the plastic wheel well covering to expose the pinch weld. Then put two relief cuts about 6 inches apart and an inch or so deep. Once I have made the cuts, I'm then going to just pound that pinch weld towards the center of the Jeep so it's bent back enough to clear the wheels at full compression and lock. Then depending on what kind of rub I get after the cutting I might gouge out some more of the plastic just to make sure I have full clearance.
And yes, trimming the fender/wheel well, won't affect things entering the engine bay. You will end up with some small holes if you cut as opposed to heat and re-mold so I'm sure some mud and dirt will get in there, but I can't imagine that causing you any problems. Feel free to PM me if you want more specific info!
Hope this helps!