I junked my 14" wheels and run 15" wheels - cant remember the profile off hand but I think it's 185/65 on the summers and a tad narrower on the winters (I'll check that and edit for you when it stops persisting down
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So, 2 sets - one set of Alfa alloys for summer, set of 15" steels for winter. The summer (wider) set run *almost perfectly* legal vis the speedo - a tad *under* ie 130KPH on the clock I will be doing approx 125 - 126 KPH by GPS. The "winters" are less accurate, but in the right direction, at 130KPH clock they read about 121-123 GPS.
Pros: better mileage, less wear, higher speed - all marginally. Looks, far better. They look 'orrible on 14" rims IMHO..
Cons: higher gearing - again marginally - but unless you're loaded to the gunnels it's not going to matter.
The key is the profile - if you go for some kind of balloon ride on a wide 15", you'll pop the speed limit.
Sensible, you wont. You can actually do the sums yourself to work out the differences pretty accurately.