The space saver spare used in our cars was a collapsible tire. The other choice was a plain steel rim with standard tire, and I believe it was possible to upgrade the spare to a matching Rally rim if so ordered. The space saver rim is also a narrow rim, I believe 5" width though I do not have one mounted. A 75 profile is probably on the wide side.
If using a standard tire it would be best to match tire heights and style (radial, bias, belted) for safety.
Vikki...That is interesting that you state "and I believe it was possible to upgrade the spare to a matching Rally rim if so ordered. " ..Many times I have been asked that question and always thought it was not possible.....Do you know of any paperwork from the factory that would say that? . I see nothing on a 67 or 68 Dealer order form. THANKS