Also I'm not sure what rubber to stick on them i.e. what would give me the best performance, comfort, rim protection and don't wear out to quickly.
I'm running Yokohama AD08 and can only fault them in deep puddlesand standing water. Dry/damp/wet grip is excellent
Michelin Pilot Exalto 2 or Pilot Sport 3 are meant to be quite good. Recomendation from Clio trophy owners
For gods sake, don't get Prada Spec2... Good in the dry but dangerous in the damp and wet
What are the advantages/disadvantages to swapping to different sized alloys?
:-Cheaper price for the equivalent tyre when compared to a 17" size. Performance 15" tyres will be the same price as mid range 17's.
:-Larger range of tyres to choose from, from ultra cheap to performance tyres
:-Generaly a more comfortable ride as theres more sidewall. Although going from a 195/40/17 with a relatively soft sidewall to 195/50/15 AD08 tyres which have a very stiff sidewall would probably be about the same comfort wise.
:-More rim protection as theres an extra inch of sidewall height between the road and the rim. Still no help if your scrubbing down a tall granite kerb
Does it effect your speedo reading?
Not if the tread has the same diameter by selecting a higher percentage for the aspect ratio
195/50/15 is slightly smaller and the speedo will over read by approx 1mph at 60mph So you will see 61 when you would have seen 60.
195/55/15 is slightly taller and the speedo will under read by approx 1mph at 60 (which actualy makes it correct as the speedo under reads a bit anyway)