Hi... I've been using 195/60/15 Bridgestone GIII previousy, and now on 195/55/15 Bridgestone RE001. Theoretically, 205/55/15 is a better alternatively to 195/55/15. However, you can hardly find 205/55/15 locally with the tyres you wanted to have in mind.
Wheel gaps will be there. Mine looks like a SUV now where you can put a fist between the wheel and the wheel arch.
At the end of the day, happy OK liao. Unless you are driving pretty extremely, it should be perfectly fine for normal driving conditions.
Cheers!