Depends what you're sfter from a car.
I doubt we'll see a proper Cup like the 172 again.
Much cheaper, much more basic, lighter and faster. Ideal for some people.
I bought my girlfriend a 1.4 16v Mk3 Clio a few weeks back and it's miles (and I mean miles) ahead of the old Clio in terms of material quality, build quality, space, driving position, comfort, cornering stability (but no quite as chuckable as a result) etc etc.
If they can make the 197 go well and handle like sh*t to a blanket, which I think it will, then it will make a seriously good car. And with Renaults crazy pricing policy, you'll probably be able to get on for 5k under list.