Is a 205/50/17 too small?

I can get a deal on a set of 205/50/17 pretty cheap but are they to small of a size to run on my 92 2wd b2600i 5spd?

when choosing wheel size I consider that the rim needs to be lower than the running gear of the truck so if there is a blowout yer not scraping along without any control at all.
The other thing is, the larger the wheel the more tubbing and what not is needed. How much ya wanna spend on tires that dont wear evenly is also a factor. The other and maybe most important thing is how different sizes look on the truck changing that feature can confuse the proportions and make the truck look totally different, oh yeah you want to be able to steer too lol.

as of right now the truck is stock height I have a set of billet speacialties and also 02 escalades I am thinking of running if I do any thing to the truck might go down 2 or 3 inches not going to bag it

oh cool yer eskies are 17" right?
I may not be bagging my current project either due to legalities, I dont want issues w the fuzz
flip yer ball joints and crank yer torsions 1-2" and that will make ya happy, throw a belltech monoleaf setup out back get some drop shocks and use low profile rubber, you will ride pretty nice and you will get the drop on your truck and it will be legal and safe too, that will almost be my same set up there. BTW you will need at least 17" to flip yer joints.

Just a note, according to my local Discount Tire, I was told that the 215/50/17 was the same O.D. as the factory wheel and tire setup. I was ridin on 205/40/17's sittin on bumpstops when the pregnant wife said the ride was too rough. I raised it about 2" and put the 215/50's on it. Filled the fender wells nicely and the ride was "cadillac". I didn't have any rubbing issues or anything like that. I also had 4x4 fenders on the front tho. But to answer your question, no the 205/50's shouldn't cause you any problems. I might have used that size back then (8 yrs ago) but my rims were 17x8 and the 205's would have been kinda thin. I like the flush look for the tires, not one to have "rounded" tires.

im runnin a 215 45 R17 on mine and its gravy.. i still want to go to @ least a 40