firechicken,
DOn't know much about clearance on birds as I'm a GTO guy. IMHO, a 12" wheel is overkill and will add unneccessary weight as you can run most any reasonable street tire or slick on a 10.5" rim. You're not going to hook hard on the street with anything except slicks. If you want a dual purpose tire I'd recommend the MT/ET Streets, Nitto or BFG-DR's. The new MT DOT tire has gotten some good reviews but personally haven't talked to anyone who has given them a good track workout yet.
Track preparation is key to good 60' times but good luck finding traction with that beast!