Changing to a 170cm wide tire will change the final drive ratio by 1.89%. You will see a respective top speed gain of 1.89% and a torque/acceleration loss of 1.89%. Meaining instead of a topspeed of 113.5MPH, you'll have 115.7MPH. It will also change the accuracy of the speedometer by the same percentage. Now for the actual fit, and clearance of the tire, It should fit, but I wouldn't go any wider. As you corner, the tires are designed to flex to create a wider footprint at an angle. If you don't change the rear rim, you will create a pinch, causing the 170 to be taller and more rounded than intended. What this will do is change the contact patch area of the tire. You will be leaning on the harder, center section of the tire at times, instead of the softer, outer edges.
In short. Yes, a 170 will fit, but you are gaining literally nothing other than looks unless you fit the correct rim to gain the added traction and footprint a wider tire provides. And, you will probably pay more for a 170, since it's kind of an odd size to begin with. I would stick with 160's and buy a good dual compond, such as the Michelins.