G'day man.
Not long ago put 7 inch wheels on my ms65. no problems at rear at first, little bit of scrapin at fron t ie under heavy brake load with wheel turned etc. Chewed out 1 rear tyre when I towed my boat, so had to put stockies on to tow - BUT - since then have invested in a set of poly air springs at the back (cost $306.00)- will solve tyre scrapin on wheel arch when towing loads, and it's improved cornering immensely. lower profile tyres up front have minimalized scouring, but I intend to look at some mods up front ie airbag suspension. Mags are an older multifit chrome star type, so you're spot on in saying your choices are limited. They really set the thing off though, will post image on my profile soon.
ps. mags cost me $100 at local wreckers - they're always right in front of ya.