Shelby drop, tire size q's.

I know this topic is popular and I know there is a search button, and I sat the other night reading topics and could not find what I was looking for, so I am requesting some advice from the guys that know.

I scored a set of '05+ 16" v6 wheels (w/ the spinners!).
I am going to do the shelby drop and would like to run the mid-eye leaf springs for a small drop in ride height. I want to run a 235 tire, but cant decide if I want to run a 60 series for a 27" tire, or a 55 series for a 26" tire. Will there be any clearance issues with the front? Can I even run a 235 at all? I don't want to spend $400+ on rubber and have clearance issues.
I also already have an explorer axle, and can't seem to decide on gear ratio. I intend to run a Trick Flow track heat top half with an aod and a 2500 stall converter, and was leaning toward a 3.55 gear. If I can run the 60 series without issues should I run 3.73's? My intention is to make this car a driver, not a show queen, but I don't want to make it where I can't afford to feed the fuel tank. Thanks in advance for your opinions.
 
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The wheel will require spacers to clear the upper a arm in the front. You want the total backspacing for a 16x8 not to exceed 4.5 inch otherwise you will contact the a arm. 26 inch is the magic number and what you should shoot for in outer diameter. After you do the drop make sure you get it aligned properly, I would recommend -1.0 to -1.5 camber and with that you shouldn't even have to roll your fenders in the front (I ran a 235 45 17 on the front of my 65 with those specs and never rubbed so I never had to roll the front fender). If you are concerned that you might wear the tire too fast on the inside edge with those specs...well...you might, I never did, but if you use 0 to -.5 camber you might need to roll the front fender lips.
 
Thanks! If 26" is the magic number, then I guess I had better start shopping for a set of 3.55 gears, it has 3.73's in it now. Although, I do have a set of 3.31's I took out of my f50......Wouldn't that make a good highway cruiser....
 
I am going to do the shelby drop and would like to run the mid-eye leaf springs for a small drop in ride height.

All good info (as usual) from Nick, but

If your leaf springs are old now, the mid-eye springs (especially 4 Leaf) will probably be higher than what you have now - the mid-eye springs give a good stance with the 1" Arning drop - you may want the reverse-eye springs to actually lower the car.