I've stepped back in terms of power, after owning a MK4 Ibiza Cupra with Forge goodies and a Revo stage 1 map (running 210bhp and 235 lb/ft torque), but I prefer the 197 (after owning a 172 cup previously, but writing it off ;/) - much more fun, looks nicer and suprisingly better fit and finish too.
The MPG isn't great but it isn't as bad as i've read on here and other forums!
*EDIT - I'd agree with the weight reduction, this car feels a lot less energetic than my 172 cup did*