One member here who hasn't been around for awhile, Evil Don, built a really nice "highway tourer" running 16 inch hog front and rear rims with "old school" style tires with fairly high profiles and "white walls", and I've gotta say they looked pretty good, although you'd be limited to "rear tire only" tire choices.
The biggest problem aesthetically with installing smaller wheels is the fact that they don't "fill" the gaps like the OEM items. When I first installed the 16" hog wheel on the back of my K1, the gap between the seat and the wheel made it look like a dirt bike, and wasn't fixed until I installed shock lowering blocks.
Similarly, some thought needs to go into how to fix the gap between the front wheel and front fender, keeping in mind that you'll need to run a wider fender to suit the wider front tire. If you're running a complete front end like Mick, that's not an issue, but it is if you're going to "mix and match" various parts to make it work. Cheers, Terry.