you could calculate the circumference of your original tire by adding the size of the rim (15\") to 2 x the width of the sidewall, and then multiply by pie (3.14). this will give you the circumference of the wheel & tire in inches.
then divide 63,360 (= to 1 mile) by the circumference of your original tire to find out how many revolutions per mile it makes.
then do this with the 135. then find the percentage difference between the two. and then multiply that percentage by your mph reading. the 135 will be spinning faster (more revolutions) so the reading on the speedo will be faster than you are actually going.
165/50-15
sidewall=3.24\"s
2 x sidewall + wheel size = 21.50 diameter
21.50 x 3.14 = 67.53 circumference
63,360 divided by 67.53 = 938.25 revolutions/mile
135/50/-15
sidewall = 2.66\"s
2 x sidewall + wheelsize = 20.31 diameter
20.31 x 3.14 = 63.82 circumference
63,360 divided by 63.82 = 992.79 revolutions/mile
...so the 135 is spinning about 5.8% faster than the 165.
...so 85mph x 5.8% = 4.93
4.93 - 85 = 80.07mph (your actual speed)
now, 2 things i'm a little unsure of. 1 - my mathematical skills. 2 - the actual sidewall size of a standard 165 and a standard 135.
hopefully someone can chime in.
also, i dont know if this is the easiest way or the right way, but it seems to work. someone please correct me if i'm wrong. B)