No. 1/8 is nothing. My biggest concern, from my experience with two H3s, is there is 1/8 inch difference. I bet if I go out and check mine with a gauge there is less than 1/32 between front and rear. And I rotate only ever other oil change (or should I say, have someone rotate them).
Another way to look at it air pressure will add or subtract for a tires circumference. I'm really not sure how much a few pounds will make, but take a pickup truck such as my Silverado. It has the AWD setting, which is very similar to the H3, and yet, I can run normal 30 lbs in the front, but if I load up the rear and slap on the trailer, I will blow the rear tires to around 40 for the additional weight (and that is within spec). I'm guessing that is way more than 1/8 of an inch difference. But it varies from tire to tire depending on sidewall.
Heck I think at times some people might burn more than an eighth off on the trails when spinning their front wheels on slick rock.:giggle: