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Hey Bartsky. I think I have seen your car. I have a 2001 Torch Red Z06.
Maybe I will see you around and check those tires out first hand.
As for putting wide tires on narrow rims, all tire makers have a table of approved rim widths and they are different for each one and specific to each series tire.
I have never lost a bead on the street but I can tell you first hand if you put a wide tire on a narrow rim you will wear the center of the tire unless you run low tire pressure. Low pressure can cause vague steering and if it was low enough you could loose the bead.
Also if you have a tread wear warranty it will be voided by installing the tire on a rim that is the wrong width.
After all that I have still run a tire that was to wide for my rims before and it worked just long enough for me to get by.
Oh and when you run a tire that is to wide for your rim you will find that when you go through a tight s curve you can feel the tire give more side to side. just my .02
Nitto tires run narrow compared to other brands. A 305 nitto is about as wide as a 295 if you actually measure it. If you put it on a rim that is to narrow im sure it will be safe, it may cause them to wear faster however. I wound invest in some 10.5 in. wheels if I were you, you'll save money in the long run.
Heres a link to the cheapest nittos I could find when I was shopping about a month ago. http://www.steeda.com/products/nitto...5r_extreme.php