345/30r19 on the rear of a 79 vette

The cleanest way would be to remodel the entire rear quarter to pull it out so it looks stock. That would look awesome, just like how that blue thunder racing car from germany had it. (go to http://www.thunder-racing.de for some pics)

Is "pulling the quarter out" done by making a bunch of radial pie slices and filling the gaps?

Good question. I was thinking about how to do it. I don't think SMC would even have enough flex to be pulled out like that. I would cut off the fender lip, move it out with a form, cut off most of the fender, and start over maybe with wood slats shaped to the curve you want. Then lay it out.
 
Top