Changed tire size - what can I expect?

I was running P265/50R15 tires that had a 10.43 aspect ratio and an OD of 25.43. I went to a P295/50R15 tire with 12.2 / 26.7. It looks very nice and obviously I go farther for every revolution of the wheel. What will this do for my RPM? Gearing? In short, what will a change like this do to my car and will it be noticeable?