Heres what I can remember about the tire sizes:
front 245/45 zr 18
rear 275/40 zr 18
2 ways to confirm this:
1. check tire rack
2. the z8 tire sizes are almost the same as the M5, except the aspect ratio is 5 larger (eg, I think the M5 rears are 275/35)
as to what to put on. well the RE050 is the brand new run flat that Ive not seen mentioned in us mags, and british mags havent even gotten a chance to review them yet. the Z8 is stock RE040.
My car is a 00 Z8 and its a very early production car. The tires that came on it felt royally hard and I always thought: when I wear them down, Im getting pilot sports or some other "regular" tire.
well, I just replaced the tires with......... RE040s! why- simple, I want the peace of mind the run flats give and I know Ill never really drive the car at "10/10ths" on public roads. my service advisor told me that there have been a few revisions of the 040. I thought he was just trying to make me feel beetter. Its true. I can report to you that with 500 miles on the new tires they feel so much better than the ones I had. Its possible that the worn out ones were just riding poorly because they were 3 years old and worn out. But I think there really is an improvement in the new RE040s. They also seem to handle much better- feel stickier.
I think they are worthy of consideration. Check out the Z8 board on roadfly.
http://bimmer.roadfly.org/bmw/forums/z8/