JRS said:Circumference is lower, so for every revolution of the wheels of the car travels less distance. In your case Gibbo, when the speedo reads 70 you'll actually be doing ~65.2mph.
***edit***
I used the calculator here - http://www.carbibles.com/tyre_bible.html - since I couldn't bothered at this time on a Sunday to do any arithmetic.
So by basically fitting lower profiles I may think my car is quicker as it will hit an indicated 70mph quicker and over a shorter distance but in reality my real speed is only 65mph.
So fitting lower profile tyres makes the speedometer read higher then, is that right?