The reason I went with the 2" wider fenders is that they "just" clear the wheels I'm running ... 1.5" was not enough and 3.5" looks silly. With a stock front bumper on the rear, the rear end does not look wide at all.
People ask me how I fit the 11" wide (actual width, bead to bead) rear wheels under stock fenders .... They are amazed when I tell them its acutally a 2" wider fender ... looks like I accomplished what I set out to do.
You can get great quality fenders and pay little for prepping or you can get crappy fenders and pay more for prepping ... for me, I had a limit on what I wanted to spend for fenders and paint. I could have saved a few bucks in labor by buying better fenders but, in the end, the cost will end up being the same.
Sandeep