You can use a 160 section tyre on the standard GS's I've seen without extra shims behind the front sprocket. Using a 530 chain simplifies the change.
If you want to go real wide you'll have to use the offset sprockets used by drag racers.
Remember, a 160 section tyre may not be 160mm in width.
Some brands are 155mm, some 160. My MX100 for example is 166mm:s wide ! It's a tight fit.
The easy way is to have your existing rear wheel widened to 4,5".
This way you won't have to worry about the chain not being in line, you use the standard spacers etc.
But hey, you want new wheels, I know the feeling

I used a 1989 GSXR1100 rear wheel, their sprocket carrier is identical to the old GS:s.
It is however more offset on the newer wheel. Get the GSXR brake caliper and holder too.
My general strategy was to get the wheel centered and straight, then get the chain to line up.
I cut the sprocket carrier 5mm:s and shimmed the countershaft sprocket according to my measurements.
When everything was lined up it was just a matter of measuring and LOTS of trial fittings to make new spacers....
Oh, the gearing gets f-cked. The lower profile of my new tyre makes it rev more, one extra tooth on the countershaft sprocket should remedy this.
The front end is easier. You'll make things a lot easier if you get a complete setup: wheel, brakes, triple clamps, handle bars etc.
I've heard that 1100 forks are 1" taller, haven't checked it.
You'll need to weld new steering stops, either on the lower yoke or on the steering head.
I chose to weld them on the lower yoke, forcing me to remove the lower steering bearing. Well, why not install new ones when everything was apart anyhow ??
It can be a lot of work, but it's worth it! Not only for the looks.
The handling difference is remarkable. Changing a 19" front wheel to a 17" makes it steer like a 500cc bike, I got a new bike!