I went through the same thing a few months ago. While I'm sure the 275/55/20 tire would be okay from a safety standpoint, I was not comfortable with the possibility of premature or irregular tread wear. In addition, Discount Tire (A) would not install them and (B) would not warranty them. This made my decision that much easier.
I opted to dump the wagon wheel skinny 20's and picked up the Gen 4 Limited wheels. Brand spanking new for about $160 per wheel. Added some Micheline's and I couldn't be happier!
These look great. I was reading a couple of threads yesterday on this subject and came to the conclusion that this was my best option. Where did you purchase the rims???
