I ran that setup on the rear of my '68 Hemi Road Runner.
No problem with fit, plenty of room using stock Ramcharger steelies at stock ride height.
I think the actual height is just over 27".
The 8" is a bit narrow for a 295/50, sucks the sidewalls in at the rim; a 9" or 10" rim would be a better fit, but they were OK on the 8".