What size tires will fit 16x7 wheels on a '69? I am hoping for 245/50's at least.

1) Why are you running a 7"? I would only run a 225/50/16 on a 7" wheel.

2) A 245/50/16 fits perfect on a 8" wheel and the wheel will fit even better than a 7".

16x8x5 4-3/4 with 4.5" back spacing.

245/50/16 front
245 or 255/50/16 rear.