let's talk about 5.00" rear rims. You see racers run 5.00" because they run NON-DOT/RACE-ONLY tires, that have a pre-molded carcass profile. These aren't even usually a radial tire. This pre-molded tire allows optimum carcass profile, with maximum contact patch.
But when you mount a DOT, radial tire on a 5.00", the tire pulls to match the rim.....that's a flat profile. but if you mount the exact same tire on a 4.25", it pulls into a more rounded profile, and gives you a better lean-angle.
A few other questions:
1) What is a good rear wheel/tire size that will not cause any rubbing or clearance issues? -depending on the bike, there is no avoiding chain rub, it's a fact of life on supermoto, and it's fine. a 150 rear is far, and away the most common.
I hear a 5" wheel is best as it offers the best option in tire size. Will that create any rubbing or clearance issues when choosing tires?-what? a 5.00" fits no smaller than a 160, and most bikes can't even take a 160. Even if they do, they can fit a 160 on a 4.25", not a 160 on a 5.00" which moves the edge of the tire 3/8" out on both sides.
2) It seems 3.5 is the best choice for font wheels but also, what is a good tire size for not creating any rubbing or clearance issues?-3.50" is the only option for Sm front rims, a 120 is the size you would run with that, opt for the largest aspect ratio as possible, this will lessen a "twitchy" feeling in the front-end at speed, due to the loss of caster by going with a 22% (or even higher percent) smaller front tire
I will tell you the same thing that I tell everyone:
Are you running NON-DOT/Race-Only
SUPERMOTO tires? If so, run a 5.00"
Are you running DOT approved, and/or radial tires? If so, run a 4.25"
Even the non-DOT, Race-only, Sport-bike tires are different, and if a person was running these tires, I'd still recommend a 4.25"
4.25" is less expensive, causes the tire to be further away from rubbing, and gives better leaned-over performance.
also keep in mind, that different brands, different models, different sizes, and even different
batches of tires bead-up, and fit differently. So for example one model of 150 in lets say Pirelli, will fit, and clear the chain. But another model of Pirelli tire, in the same size may not clear the chain. But like I said, chain rub is a fact of life most of the time, and is acceptable.
but last, and not least, the tire size, and rim size are 100% personal preference, and some people prefer one, over the other for reasons I have not listed. This is also true for gearing, it's personal preference.