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At 70mph your speedo will read 67.73mph. So cheaper tyres and less chance of getting caught speeding seems win win to me.
http://www.alloywheels.com/tyrecalc.asp
Are you tracking the car bit pointless if not? Another thing is you should be spending your student loan on copious amounts of alcohol not bloody tyres!
I wouldn't say a 172 is a downgrade, older yes but still just a capable on track. Selling the 197 in order to get on the property ladder makes a lot of sense to me.
Similar to posts above my car idles/runs much better on super and has been mapped to 98ron so I always use V-power. Unsure if there's any difference mpg wise but I earn a good wage so a few quid extra to fill up doesn't bother me.