Interesting, this is one of the top projects on my list for 2010, new tires for the TR4A. Right now I am running 205/70-15s installed on 15x4.5 60 spoke wires. The tires probably timed out after 9 years and this is why I want to replace them. Even though I never had an issue with the 205's being too wide, most of my research indicated this width is too much for the 4.5 rim.
To maintain the stock diameter for speedometer accuracy, these combos are pretty good
165/80-15 (Kumho, Nexen and Vredestein, try easytire.com)
175/75-15 (cannot locate any in this size)
185/70-15 (this is my first choice in size and can only find the Vredestein)
195/65-15 (cannot locate any in this size)
I am pretty much decided to go with the 165's as replacements for a few reasons: best fit on 4.5" rim, cost, I am mostly a weekend cruiser not seeking max grip, curious to see if steering response is faster and car may be more "toss-able" with the narrower tires.
Yes you need the bands. Also, I have used Eastwood Detail Silver for wire wheels and it held up amazingly well. I plan to use it again. Re the powder coating, I recently read some posts here about the heat warping the wire wheels(?)
Lastly, I am considering a coat of Eastwood Diamond Clear (gloss or semi). I have heard this adds a level of protection. I also think it may make them a bit easier to clean as well as give them a little extra pop.
Let me try and figure out how to add a photo of my current wheels...
Happy New Year
Bob