The "Series" of the tire does not denote a specific height, but rather a specific ratio of width to height.
For example a 205/50/17 tire, 50% of the width is the height.
a 205/75/17 tire, 75% of the width is the height.
Therefore, going from a 205/50/17 to a 215/50/17 would result in an increase of sidewall height from 4.0 to 4.2 inches, and revolutions per mile from 804 to 792 resulting in a 1.6% lower speedo rating. Which according to my individual speedo calculations, would make my speedo MORE correct, since my speedo with stock tires reads a little bit fast.
Here is a great site to calculate tire / wheel size changes, and other informations such as revs per mile, sidewall height, etc.!
http://www.miata.net/garage/tirecalc.html