Great questions (I'm going through similar issues now!)
I spoke with Bogart Racing Wheels yesterday and they said that for my application (15x9 wheels w/MT ET Streets 26x10.5) that they will rub the inner fender well. They said that I would have to roll the outer fender lip to clear and that everyone does this and it's pretty easy to do. Although, I have no idea how to 'roll the outer fender lip'
So with your 11.5 tire, I think you will definitely have clearance issues - although you're on a 95GT - so there maybe a little more room back there than on my 91LX.
Sorry if I was of no help.
E