I just put 16" wheels on my 68 convert. These are the rallye 2 style wheels from Specialty Wheel. I don't like the look of larger wheels with low profile tires so I didn't want to go any larger, but wanted the 16s to clear larger brake discs.
I went with 8 (4.5 backspace) inch in back - with 255mm - 50 profile in back and 7 inch (4.25 backspace) in front with 215 mm 55 profile tires.
I have new springs in the rear so plenty of clearance for the bigger rear tires.