I voted for the M2K's for all around bashing pavement, grass, dirts, snow, etc.
I've tried on a few different tires and I would have to say the best all around tire IMO is the M2Ks. As said before they work great all kinds of terrain. They have some give and unless your talking about 40's they are fairly light and seem pretty forgiving on asphalt. Don't get the rollovers like the Badlands or cheverons. Run smoother on the asphalt. Flip them around for winter and forget about chaining up the 4wd. Stay away from the knock offs. They will do the job but don't last as long. Sidewalls for one will give out on you and start ripping in my experience.
For ripping it up in the dirt I like the badlands. I haven't tried them out in the snow yet to see how they do. They definatly give you some traction in the soft dirt. They aren't that great on asphalt. That was already mentioned.
I use a Panther tire on the truggy. It's a lot like the mulcher tire. I think they are called Meat Grinders. If I needed to buy a set of replacements for them I don't think I would buy them again. I would go M2k or Badlands. They seem to hook up well and don't overbite on the ashpalt. The panthers just seem a bit softer and well I didn't do the best job taping or glueing them on the rims. I guess I am a little bias on them due to messing up the install.
I was suprised at how well the talons did last year in the snow. Mounted backwards they did really well on the 4wds. I think they are crap on two wheel drive setups though. I like to run them once in a while. Mainly due to they were the preglued tires and they are still pretty well balanced. Gives you some traction but also lets you do the powerslides and not a bunch of tire hop at high speeds.
I removed the sharp edge on all the stock cheverons that I had. Used the scroll saw to take the bite off. I think it improved the preformance at high speeds and on high traction surfaces.
A good tape job should take care of most of you ballooning on any of these tires. Use the best tape you can buy to do it. Once the tires are glued it a pia to get the tires back off cuz the duct tape you used didn't stick for long. All the tape bunches up and you got one hell of a lopsided tire. I used to cut a strip of roof patch and use it to help reinforce the tape. Worked well but they have some better tape out now that resists stretching pretty well.
I went through a tire phase there for a while. Still have to fight back the urge when I am at the LHS to buy a different set to just try out. I didn't have any luck with the IMEX tires or there rims. Will not buy them again.