A set of 245/40/20" would put the tire diameters at 27.7" which would match the OEM tire diameters - speedometer & odometer would remain accurate. Hankook Ventus S1 noble2 & Continental ExtremeContact DWS are very highly rated tires that size (I'm only considering Ultra High Performance All Season w\ >= 500 UTQG ratings). For those two tires, they are also offered in 275/35/20" w\ diameter of 27.56" if you want a staggered setup in the rear. Sidewall heights are 98mm for the 245s and 96.25mm for the 275s. For comparison, OEM 19s have sidewall height of 110.25mm and OEM 21s have a sidewall height of 85.75. So those 20s put you right smack in the middle. Unforuntaely Michelin Pilot Sport A/S 3 is not made in 245/40/20" or 255/40/20" so IMO that rules them out for a front tire (which sucks, I love Michelin and those tires are rated very good). 245/45/20" are too big, 255/35/20" are too small. 265's are too wide for the front which sucks. Plus the tire diameter isn't the best for 265 20s (265/35/20" comes to 27.39" diameter, and besides the sidewall height is 92.75mm and thats getting towards that same low profile of the 21s which I do not want).
Obviously I have been doing my homework here and fully plan on getting 20s when I burn through my 19s. I want a staggered setup and I want to use a smaller offset to make the tires fill out the wheel wells. I haven't made up my mind on wheels yet. I am leaning towards the Continentals considering some of the user reviews have said they've lasted over 100k miles before needing replacement vs Hankook might not last as long (granted those were from cars weighing 1/2 the weight of the Model S, nevertheless that's pretty damn good). AFAIK Continental as a company has much more experience and I would say they probably make a more reliable tire. (well, that might not say much though because look at Tesla vs everyone else...hahah. History != quality).
Right now I am leaning towards 20x8.5" or 9.0" rims in the front with Continental ExtremeContact DWS 245/40R20s , and 20x9.5" rims in the back with Continental ExtremeContact DWS 275/35R20s in rear. Now I just need to found a hub-centric rim I like with the correct offset, bolt pattern, load rating, and style I like. Most aftermarket rims have a larger center bore so a centering ring will likely be necessary. A big plus would be a lightweight rim (less than 19" OEM factory) to reduce the unsprung weight, aka performance gains :)