These trucks are way too nice to be driving in very deep water. Water damage is also not a cheap fix. You get your interior soaked and you risk getting mold and such.
A few months ago I drove my truck through a flood and it definately didn't help the condition of my brakes. About a month later I had to get a brake job done because of warped rotors.

 

Your brakes must have been hot as hell when you hit the water.

 

Well doing this several times probably didn't help. Btw, your truck looks like it could drive through a lake.

You have a nice truck. Not a fan of the cap on the back but overall I'm jealous.

 

As an avid 4x4er I have gotten my share of soakers going accross water that was too deep for my vehicle, getting stuck and having the water leak inside soaking up the carpets, into your new Nikes and everything else is not the best way to spend the day.....It's best to do your homework and study your water crossing first, I would say its totally safe when its at your rockers panels or below, anything more than that and the risks get more intense!

Here are a few shots of me and how it looks like when you have to go around all day with your shoes squishing and squirting water for the next 8 hours...lol

 

You have to worry most about getting swept away in a river if you let the water hit your cab, while it is going through your undercarriage their is much less resistance against your truck, but if it ends up getting to your cab the resistance becomes much worse.

Also, it should be kept in mind by members that what one another does with their trucks is their choice, not for someone else to tell them what they are and are not allowed to do. I say have the fun that you want to have with your truck, just be safe and stay out of harms way, I hope you take care of your truck, but if something happens just remember, that can be the cost of having fun.

On another note about the exhaust, I had my old truck in a hole that came up into the tailgate and filled it about a half a foot, my exhaust was well under water, and I killed the truck, it took a few times trying to start it but it did start, so yes, the exhaust can go under.

 

gtup, good to hear your truck performed well, I just stumbled across this thread so I'll throw in my $.02 for anyone else thats interested.
When I back my truck into the boat launch at the lake I live by to put the boat in The tail pipe is under water for five mins or more, Ive been doing this for years, never had any problems. Ive never tried shutting the truck off while its under water but there are videos on u-tube and people have no problems starting with the exhaust submerged.
Best advice i can give for crossing deep water is to go at a slow constant speed. In most cases unless the water is extemely deep when you keep moving the truck creates a "wake" in front and a cavity around the engine compartment that helps keep the intake from drawing in water.
Also keeping a steady pace will keep the water from entering the cab or the axles. As long as your moving you will be fine, if you stop you might have problems.
Deepest I would attempt in a stock truck is 3-4 feet.
Also be sure you know whats at the bottom. rocky creeks and flooded streets are usually not a problem. however muddy and sandy rivers can be cruel because of the lack of traction. Theres no better way to ruin your day than to be stuck in the middle of a river crossing.
Good luck to all.