I wouldn't be too annoyed about flywheel power to be honest. I cannot see how this can be accurately measured without removing the engine and actually measuring bhp at the flywheel.
The flywheel is an estimation based on power at the wheels and a set perceived drive train loss. In other words, they have got a figure of 31.7 bhp drivetrain losses between flywheel and wheels.
If, for example your transmission loss is actually less than that, it doesn't have to be by much and then there you are, that's your 197 bhp, if you see what I mean. Drivetrain losses appear to have been estimated at about 19% if I understand that graph correctly.
No doubt someone will correct me if they think I'm wrong, but this is my understanding. I'd not talk flywheel figures to anyone, it's at the wheels figures that really mean the most on the road.
All this is of course before you take into account ambient temperatures that Renault test their engines at and that your engine is tested at, the mileage on each engine, tyre pressures and so on....
Plus, a rolling road/dyno actually measures torque, not BHP. The BHP figure is a calculation made using a specific formula.
It calculates power from the equation therefor it measures power just as accurately as torque. Power = Torque x RPM
You should only really use dyno's as a tuning tool, to compare different mods on the same car, on the same day and on the same dyno.
Same dyno same conditions, they dont read different on a tuesday 
If the OP compares his figures to other cars that used that dyno on the day, that will give a better judge of how good/consistent his output is in comparison. Ambient temps etc don't really come into play as, the dyno operator will use a calculation to DIN standards, to accomodate any atmospheric changes.
But yes, Dyno Dynamics rollers are regarded as one of the most accurate, in the tuning industry.
Some dubious operators may allow for incorrect ambients to be measured to show improved gains on mods, most dynos print out these measurements now tho. As per pumping up the tyres.
As the OP has already said, if those figures are to be believed, for such a young car, it would seem a good figure. Once it's lossened up, it should become a little stronger, if looked after.
