I was running on 195/60 14's a while ago (on a lowered car) and had no clearance issues. I am sure you could fit 205's if you can get them(I think AVON make a 205/60 14 as I had them on my Amazon.
I've got 15" Volvo Alloys on my 360, they're on 195/55's, but I'm going to replace the worn out two with 195/50's on the front to keep the speedo correct and as they apparently cheaper to get hold of. FoggyJames has been running 15" wheels for a long time now.
Pete
Here in the UK there is nothing illegal about it, as long as it is safe and they are a correct fitment so nothing fouls and so nothing rubs I can't see a problem. Mine are a Volvo alloy, as are James'. I'm not familiar with the laws in your country, as I know in some places, to even have different size tyres on the car at the annual inspection will cause major problems and possibly even fines. As I understand it, someone has run 205's on a 360, but that is as far as you can go on the front of the car.
Pete