Yes the 20's don't fit in the rear, but the front is fine. On the lower rear back door is where it rubs, so if you really wanted it to fit you would need to do some body work, very expensive since the pannels are sealed. so go with 19's.
Hmmm.. In fact I've mounted 20" rims on my '89 V8. I didn't take it for a ride though, but we did take a look to see if the wheels did touch any parts of the car.. maybe that's because my car isn't lowered on the suspension, yet..?
btw: anyone got a link to a site who actually sells lowering springs to V8?