I do agree the 197 is better looking and the grey Recaros with matching rear bench are a whole lot better than my odd yellow affair...
You risk is - the R27 is on the face of it £2k more than an equivalent 197 FF with cup chassis and the same options. The only thing bolstering that price is the fact it is rare in so much as it has a plaque and some stickers, you can buy exactly the same spec normal 197 which will be newer and cheaper.
Now we all know some things carry money for being rare, 25th Anniversary Golfs for example, the Clio 182 Trophy. These all have something different about them though. All Renaults heavily depreciate, if your R27 suddenly only starts commanding another £500 for its rarity, you stand to lose a lot more than on the same loaded 197.
The 197 is a great car, the 200 is just an evolution of it ironing out some flaws. Some of these you can address, but some you may find annoying.
The handling is crashy, still better than virtually every other hot hatch mind! A 2nd hand set of KW V1s or other will see that sorted straight away.
The steering feels a little dull as the 'rack is so long lock to lock, tightening up the suspension aids this.
At 70MPH you'll be screaming along at 4000RPM.. not a lot you can do about this, other than get a 200's 'box.