197bhp from a standard (and pretty much guarenteed to be reliable) N/A engine with awesome throttle response and utterly no lag is plenty in a renault 5 track car.
I believe it will be quicker laptimes than on the turbo motor with its worse power deliver, excessive mid range boost that tails off, and lack of throttle control.
Im a big fan of turbo motors, but in this situation, I reckon the more modern multivalve larger capacity N/A is the better of the two options personally.