In defense of "out to the sidewall", I think this is because the "bulge" of the tire represents the point of highest frontal area, but doesn't normally stick out from the fender well. I think (THINK, no evidence) that the slightly convex wheel cover allows a larger area to stick into flow, keeping it steady, not allowing it to dip into the wheel house as much.
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"¿ʞɐǝɹɟ ɐ ǝɹ,noʎ uǝɥʍ 'ʇı ʇ,usı 'ʎlǝuol s,ʇı"
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