I just purchase an 03 MCS with navi. It came with 16' wheels. I just got a free (so cheap they should have been free) 17' stock S wheel. I am on the hunt for some good rubber. The stock run flat's are 205/17/45 can I go with a wider tire? What is the best rubber for my buck. A friend of mine suggested going with Hankook Ventus V12 evo K110. Thoughts? With out run flat am I just doomed to be stranded with a flat?

I'm using 215/17/45 without any problem. Will you planning to upgrade suspension?

Yes

Springs shocks sway bars the whole nine. Will I have a issue with the wider tire?

I know JCW suspension kit and Alta lower spring w/sport shock won't have any problem.
do you have any idea what spring or shocks will you want?

I was going to go with the alta springs or coil overs

For coil overs: it is depend on adjustable range.
For alta spring should not have any issue.

Any suggestion on a good performance tire? What do you do when you go away from the run flats with no spare tire?

I have BFG KDW2's on my GP and love them. Great in the wet weather and dry. They are quieter on the pavement than the runflats but are a bit noisier than other non runflats. I carry the MINI Mobility system which is basically a canister of fix a flat with a compressor. Hope this helps!