Welcome to the Madness Eugene!
"as I'm not building an original 356, so why not have some fun!"
That right there is a great attitude to take when building a replica Speedster; do what you want and don't worry about what anybody else thinks, as most people who look at your car won't know (or care) about the details, and the odd fusspot who gets his knickers in a knot over the non-original this or that doesn't matter anyway. With that said...
As already mentioned, there's no need to go to the trouble of narrowing a beam, as there's lots of room for all but the biggest rim/tire combos up front. Narrowed beams also don't handle as well, so in a car that will be driven a lot (with emphasis on enjoying the "driving" part) it just seems the wrong way to go. Lowering the front via adjusters keeps the front track stock width so adding 5x205mm bolt pattern disc brakes (which do add 1/2-3/4" per side) won't push out the wheels too far. Someone chime in, please, if he/she has gone with lowered spindles and wide 5 discs- what size rim and tire did you use?
Depending how low you go the ride may be a little rougher (the suspension may bottom out more often), you will probably need shorter shock absorbers, 2 caster shims (don't forget to buy the longer bolts as well!) behind each side of the bottom beam may be necessary for safe highways speeds instead of 1, and more angle on the tie rods does create more bump steer (which can be somewhat mitigated by flipping tie rod ends, but it's more work and I don't know if you'll get back to stock angles).
Lowered spindles have the advantage of getting the final ride height closer (and then you can fine tune with the beam adjusters if you welded them in) so the tie rod angles don't change as much, the caster change is less (may only need 1 shim) and stock length shocks will most likely work. They do add 1/2 or 5/8" width to each side, but Karmann Ghia discs (which aren't any wider than drums) drilled to 5x130mm Porsche wheel pattern, 15x6" Fuchs wheels with 195/55's fit under the front of my car. Will it work with wide 5 discs, 5 1/2 or 6" rims and 175 or 185 tires- I don't know. Anybody?
Wide 5 discs (if you go with them) will add width to the rear track as well, but the '66 trans has the shorter axles and tubes (if it's original) so you'll have the most leeway in what will fit for wheels and tires. Beefing the trans so it will stand up to the increased power (VW or Subie) will be essential to it's long term survival, and a longer ring & pinion (4.125 or 3.88) may be a good idea at this time. Going with the Subaru trans nets you a 5th gear (yayyy!!!!) but means irs is the only option. Speedsters are known for having minimal tire room in the back, but the arms can be narrowed (will require shorter axles) and then wider tires to match the front are a possibility.
I know a little bit about increasing power and displacement with the aircooled type 1 engine but know nothing about Subie power, so if the dark side you go help I can not.
Yoda out (for now, but back you know I will be!)