Yes, the wheel/tire size is some what important for gearing and keeping the speedometer correct.

A 215/50 has an aspect ratio of 107.5mm. The original tire, 165/78R15 has an overall diameter of 638.4mm and it is favorable to be close to that number. The 205/40R17 is 595.8mm, a 42.6mm difference. That's a bit over 1-1/2" difference, a bit much but not too bad.