The wheel width doesn't affect the height, but the section width does. Ok - here we go.
To calculate the height of a tire you take the section width (225, 245, etc.) and multiply it by the aspect ratio percentage (60, 65, etc.) and convert it from millimeters (the 225 is in millimeters) to inches (25.4 mm/in). So far then - (295X.65)/25.4=7.54". That calculation tells you how high the sidewall is. To calculate the tire height, you simply multiply that number times 2 (there's a sidewall at the bottom and the top) and add the wheel diameter. So then - (7.54"X2) + 15" = 30.1". A 295/65/15 tire is approx. 30.1" tall. Same math for a 225/60/15 tire results in a tire height of 25.6" tall. You are correct - difference is about 4.5". You see, it's not just the aspect ratio change that impacts tire height - the width change (225 to 295) impacts the height as well. So a 255/60/15 tire is 27" tall; a 225/60/15 tire is only 25.6" tall - same aspect ratio and wheel diameter for both tires.
The impact on rear end ratio is inversely proportional to the change in tire diameter - the taller the tire, the smaller the gear ratio number. So, 30.1/25.6= 1.17 or a 17% reduction in gear ratio. So, 3.73/1.17= 3.17 (sorry, my bad on my math before); 4.10/1.17 = 3.50.