The indicated speed of your car is a function of the *tire* diameter, not the rim diameter.
If you have 245/50/16 tires on your car stock, and you want 17" wheels, you would go to something like 245/45/17 tires. Note that the middle number (the sidewall %) is the one that changes. Also note that that is a rough example, not mathmatically accurate. When you change the rim, a tire shop will help you figure out what tires will come out closest to correct. You can usually live with a 2-3% margin of error so you won't have to get your speedo recalibrated. (different procedure on different cars)
For the guys that put tiny/huge tires on trucks, yes it definitely impacts their speedo and also performance. If you have 26" tires on your truck stock, and you put 31"s on, your speedometer will read way off and your acceleration will get noticably worse. You have effectively changed the gear ratio of your car. By the same token, if you put tiny wheels on your truck, you will actually get better 0-60 times, as you will have effectively lowered the gear ratio. The downside is that if you used to cruise at 70 mph / 3000 rpm, you could now be at 70 mph / 4500 rpm which isn't necessarily good for your motor. Ditto with big tires - I put 31" tires on my jeep and could no longer use 5th gear, it would try to pull 1800 rpm on the freeway at 80 mph and the engine didn't have enough power.
Changing rim sizes (and getting the correct tire) does not necessarily make your car faster/slower. The advantages/disadvantages there are strictly because of the actual weight of the rim. If your car had heavy stock rims and you put lighter, bigger ones on - it will get faster. And vice-versa.