Not much of a car guy, so talk to me like I'm ignorant. 
I have a deal on some free tires and some cheaply priced rims. I have a 2003 Tundra, with 16" rims, the new rims would be 17". My tires are P265 75R16 and the new ones would be P235/65R17.
Using the size calculator, this would reduce my overall diameter from 31.65 to 29.03.
Any implications I should be aware of for this, other than speedometer/odometer issues?
I have a deal on some free tires and some cheaply priced rims. I have a 2003 Tundra, with 16" rims, the new rims would be 17". My tires are P265 75R16 and the new ones would be P235/65R17.
Using the size calculator, this would reduce my overall diameter from 31.65 to 29.03.
Any implications I should be aware of for this, other than speedometer/odometer issues?