Chato,
Ah, I see now. If you're squeaking because your pads are down to the wear indicators, then chances are you've damaged them a bit. How bad is another question. If this has been going on for more than a few days, I'd certainly turn them. If there's a deep groove in the rotor, then you should replace them. Just note where the wear indicator is and feel in that position (usually on the back of the rotor...) for a groove. In an emergency (like if you can't get the rotors off) you could drive on the damaged rotors, but bear in mind that due to the width of the groove worn into them, you will lose a bit of braking effectiveness up front.
You're certainly correct that if you replace the pads, and the rotors are shot, you aren't helping much.
Heh, I know what you mean about those BFG Long Trails. When I got my truck, they were at the 35 pound max inflation...no wonder she was hydroplaning...I dropped that down a few pounds and it seems better now...
Bogatyr