I have a 1998 E-150 with a 4.6L and 3.55 rear. It has 15" wheels with P235/75SR/15XL Michalin tires(28.8"). I was thinking of changing to a 3.73 Rear. It was too expensive. I'm now thinking of changing the rear tires to P225/70SR/15 to get almost the same effect.(about a 3.72 effective rear gear). I wanted to ask the "experts" some questions....

1) Am I figuring this right? Would dropping down tire diameter 1.4" change my "effective" rear ratio from 3.55 to about 3.72?

2) Would having smaller tires on the rear cause problems? Would handling, tire wear etc. be affected?

3) What is the downside of having Rear tires 1.4" smaller than the front tires?

Thanks in advance,

Bill