Do you think I would experience rubbing with 235/40R17 and a inch drop ?

 

Tire height wise, it's a-ok. Overall diameter is a .2" decrease. Just check if you have enough clearance on your suspension in the backside of the wheel and the frontside near the fender. I'd say it might rub on bumps when your suspension compresses, but depends how low the car settles after the lower springs.

 

I think it may work. I have sold 275/40R17 for the front of the car with the fender lips rolled.

 

the car will settle around an inch less with coilovers.
Jim what offset did the rims have to use a 275 ?