'65 Valiant. Will 15x7 wheels, 205/60/15 tires fit?

Seeing the limited options and high prices I will encounter putting new P185/80/13 tires on the tiny, stock 13" wheels, I'm now thinking of getting the repro Rallye wheels in the 5 in.x 7 in., 5 x 4 in. Bolt Circle, 4.25 in. backspace size.

1) Would a 195/70/15 tire be nice for this, or would it be too narrow for the rim?
2) Would a 205/70/15 be too big for the wheel well?

I want some decent height to the tires, but don't want them to be too wide.
I could get the 14"x6" Rallye wheels, but fugured that I'd have more options with the 15 inch tires, as they are more prevalent these days.
What are you running/recommend?