Small will have the least aerodynamic drag but the least traction & now you need to come up with gearing to spin the little suckers which will probably mean some kind of overdrive to your underdrive (ring & pinion) & all that sucks HP.
Best range for off the shelf gears is the "2 series" 7-1/2 10 bolt, the highest ratio is 2.14 down through 2.29 2.41 2.56 2.73 & 3.08 the lowest. With a 30" Mickey, 7k rpm, direct drive in the trans & a 2.56 gear will give you 244mph. That'll give you ratio options with no other changes all the way up to 290-ish with the 2.14 if you are making HP to pull it.
Besides, a little tire on a 38" tank is going to make it look like a pregnant roller skate.
Sid.