i took a std +1 conversion tire; 205/60/15 as the base. then added in 3 16" sizes, 225/50, 205/45 & 205/50. if you read the bottom row 'diameter diff' you'll see in red color font that the 45 aspect is not recommended as it exceeds 3% difference from 'stock'. you'll also see that either of the 205's are too narrow for an 8" wheel, max rcomd is 7.5.
http://www.1010tires.com/TireSizeCalculator.asp?action=submit