This isn't over inflation.
I have a set of Michelin LTX M/S2 50psi rated tires I run at 40psi and I have zero issues with tire wear. The door post placard calls for 35psi ...but back in '98 when the truck was new it came with UniRoyal "Tiger Paws" ...car tires ...and 35psi was that tire's max inflation rating. I suspect the tires you have are also 50psi-rated.
If you look at your front tires ...the inside edges compared to the outside edges ...you'll see the inner edge of the tread is almost gone while the outside edge looks much like the rear tires. The wear spreads from the inner edge across the center of the tire. This is potentially a camber issue. Camber is how far outward the top of the tire tilts away from, or in towards, the body of the truck based on an imaginary plumb line that runs perpendicular to the ground.
http://www.discounttire.com/images/helpPosNegCamber.gif
In your case it appears there is too much negative camber and this is part of the cause for the wear. Most vehicles run none to a little positive camber.
Also, your toe adjustment is more than likely off. Toe is how much the tires point into or away from one another (think: pigeon-toed or duck footed). Typically incorrect toe will cause a "feathering" type of wear on the outside or inside edges of the tread (based on how off the camber is).
http://www.freeasestudyguides.com/graph ... stment.png
My guess is you have a way negative camber combined with the toe out of adjustment. Potentially you may also have some worn shocks. If these are the original shocks they are way past overdue. Most shocks are gas charged so they can effect ride height and front end geometry when the gas charge leaks out.
Bottom line? Bring it to a good indie shop and have them do a front end alignment on it. Have them check the shocks and spring for a new set (sorry, bad pun). You may also have some worn suspension components as mentioned and a good shop will check this as part of the alignment. Obviously you'll need a new set of tires also. Once you get the front end dialed in rotate the tires every 6000 miles or so. This helps distribute the wear over all four tires. Front tires will wear faster than rear tires so rotate them front to back to maximize the mileage you get from them.