runnjump, I'm running original 16" wheels with radials on my 46. Can't remember the size right now but they look the same height as the originals. Check out the gallery for some pictures.
I'm also running a 3:55 rear with the orig 3spd. It works fine on the freeway. I wouldn't want to drive it at 70, but it will cruse at 60 all day.
Hope this helps
George