I have 225/50R16 BF Goodrich KDWS tires on my 98 SVT E0. The fit is close, but there has never been any clearance problems. I have had this size for about 70,000 miles.
The car came with 205?55R16 tires. The 225/50R16 is the same diameter as the original but is about 3/4" wider.
The 215/50R16 is slightly smaller in diameter and the width is in between the 205 and 225. If you decide on a 205 tire, I would go with the 55 instead of the 50 so that you do not loose any more ground clearance, unless you like to have your front bumper repainted frequently.
There are lots of us running 225/50R16's, but the only way to know for sure is to mount up a set and try them.
