The first 29er riders used Mavic G40, as I recall, but what can be done is not the same as what should be done. Mavic do give maximum tyre pressures vs. size somewhere in their literature, and as long as you stick to that you won't destroy your rims by ripping the sides off, but your riding experience will be greatly enhanced by using wider rims. In fact, you can probably go down a size on tyres by using a bigger rim and get the same contact patch, with the advantage of better handling and probably lower total rim+tyre weight.
The first 29er riders used Mavic G40, as I recall, but what can be done is not the same as what should be done. Mavic do give maximum tyre pressures vs. size somewhere in their literature, and as long as you stick to that you won't destroy your rims by ripping the sides off, but your riding experience will be greatly enhanced by using wider rims. In fact, you can probably go down a size on tyres by using a bigger rim and get the same contact patch, with the advantage of better handling and probably lower total rim+tyre weight.