So after years of 205 and 195/50 tires on 15x7 and 15x8 wheels, I think I want to actually try the stock 185/60 size, in either the Falken 912 (have 512s now) or the General Altimaxes people are raving about... what do SL peeps think about this setup? Just for clarity, I currently have 15 offset 15x8 501s, and have 10mm rear shims and rolled fenders, riding on well-settled S-Techs and Sensatracs. Will there be rubbing issues with the increased (approx 1 inch) diameter?

I've seen it done and they look good on there.

I ran that setup for a year and did not have a problem. The rodes here in Chicago suck. I was on df210's and echo struts so the front was fairly low. I did have some very minor rubbing issues but never chunked a tire. The rubbing was a small ridge just above the tread on the sidewall. It only happened on real big dips. I will post some pics maybe you can get an idea.
http://i125.photobucket.com/albums/p76/chjeep/DSC01224.jpg
http://i125.photobucket.com/albums/p76/chjeep/bsp%20box/DSC01040.jpg
http://i125.photobucket.com/albums/p76/chjeep/DSC01225.jpg

i've got the stock 185/60/15 tires stretched on a 15x8 wheel and like championjeep said, i have not had any problems at all with that setup.