The small spare on the non HD equipped models is the same diameter as the stock tires. When you move to a different diameter tire from stock you need to have a spare with the same diameter. Not sure of the exact damage if you used a smaller diameter spare but I would not take the chance.
I believe it has to do with the center differential. Have you ever taken a cup and rolled it - notice how it rolls in a circle? That is because the outside and inside are turning at different speeds due to them being different diameter circles or "wheels". When you are driving straight with two different sized tires, the differential has to make up for those differing speeds - that is where the damage can come in to play over time. That is why most cars that are AWD have a center differential - it allows you to turn. Without it, the tires would try to fight you turning (they wouldn't want to turn at different speeds).
Someone please correct me if I misspoke.
BTW - I was at CostCo the other day to see how much BFGs in 265/65/R18 would cost. Their "manager" told me that they weren't allowed to install non-factory sized tires on cars because they affect ABS systems, traction control, etc. I started to explain to him that as long as they are the same size all around it shouldn't matter (within reason) - he continued to tell me that I was wrong and that I would have serious problems. I started to ask him what happens when you wear that 12/32 of tire tread down to where you are at the treadbars and have lost over 1/2" of diameter, but I decided it wasn't worth it, especially after already having to help another employee when someone came in and asked for the "BF Goodrich" Silent Armors. The employee was like "sure, we can order those". At which I had to explain the Silent Armors are really Goodyears (which CostCo doesn't carry). He looked at me like I was nuts and then said "oh yeah".
