Every f-body I've owned (and my Vettes) have all had their spares removed as soon as I got them. The spare tire well on the f-bodies makes a really nice storage area for all kinds of race equipment, tools, etc. (IMG:
http://www.frrax.com/rrforum/style_emoticons/default/biggrin.gif) Right now in the Hawk, I've got a box in there with:
torque wrench
socket set, screw drivers, wrenches, pliers
spare serpentine belt
fix a flat (for emergency tire repair)
mini air compressor
towels
long sleeve shirt (in case I forget for track days)
brake fluid
rubber hose
stock jack (although I normally carry a small floor jack for events too)
race brake pads
It's all in a box that wedges in the space nicely but can still be pulled easily during track events. Plus all of that combined is probably about the same weight as the factory spare tire.