Handling is theoretically improved a bit because of less sidewall flex (what sidewall? 
) and the ride will be harsher because of less sidewall movement.
I wholeheartedly agree with the others about forgetting this idea. There is so little cushion in the sidewall of those tires that wheel rims will take a severe beating. Every pothole is a potential wheel cracker.
While going into a local mall a year or so ago I saw a “riced out” Nissan parked in the lot and it was fitted with “rubber band tires” as they call them. This car was tastefully done though (black on black) and from a distance looked really good. As I walked by it I saw that all 4 wheel rims on this car were literally beat all to hxxx even though the rest of the car was immaculate. The wheel rims were marred badly and had nicks/hunks out of them completely around the circumference of all 4 wheels.
Personally, I’m not even a fan of 45 series tires and I certainly would not go less than a 45. JMHO anyway.