Rob, yes and no. In the early days, there were a very limited selection of tires to chose from. As wider and stickier tires became available, many of the suspension components weren't capable of handling the extra loads, hence some of the rules. My early Bugeye, on treaded Goodyear Blue Streak Sports Car Specials, couldn't hold a candle to the way my current car acts on 20x8x13 Hoosier slicks. Brakes, axles, and all the rest have vastly improved over the years, allowing us to push the envelope more, and do it <u>safely</u>.
One other reason for many of the rules was an attempt to keep the cost down for the amateur guys.
Just my take, based on nearly 40 years of insanity.
Jeff