New tyres on hybrid - size and tread questions

Woodenleg
Woodenleg Posts: 26
edited April 2009 in MTB general
I have recently replaced the original tyres (Cheng-Shin 700 X 40C) with Michelin Transworld Sprint 700 X 40C.
Size: Whilst labelled the same size the Michelins are significantly bigger, both in width and depth. Fortunately I have just sufficient frame and front mech clearance to accommodate them, and have re-calibrated my cycle computer to account for increased circumference. Is a significant difference normally experienced between manufacturers quoting same sizes? (Roadies I guess would have advised to go with 35mm width).
Tread: Although there are no rotation direction arrows on the sidewalls, the centre tread is a medium/light chevron pattern with heavier side lugs. Observed convention seems to be to have chevrons pointing in the direction of travel when viewed from above the wheel. One piece of advice received suggests to reverse this for the rear wheel.
So, no direction indicated; is it important? And can any-one confirm correct / best way?
I am running these at 60psi front and 70 psi rear on road / occasional light off-road use.
Thanks.