Stock 16's w/Cobra brakes? Any way?

cobra brakes w/17's

brakes019-vi.jpg


theres maybe a fingers space between the wheel and caliper
 
I'm reasonably sure you can't use the stock 16's on Cobra brakes. How about just running the 16's in the rear and stick with the ones you've got in the front? The weight savings would be negligible. Or do you also have the 13" upgrade on the rears?
 
"As long as you can get a piece of paper between the wheel and the caliper, you're fine." Told to me by an engineer that works for American Racing. Let me know if the wheel fits or can be made to fit.
 
Ok, so would a 255/50/16 MT drag radial be enough tire for ~ 330rwhp/350rwtq? How about 500rwhp?

I guess I could go to an et street, but i've heard the et radial is just as sticky. I dont think annyone makes a true drag slick in a 26" tall 16" diamter.