16x8 inch wheel is a better choice...but it's your choice
I have to agree based on performance data, that is a very good all around street and track size. The harder you push the corners, the wider you go (reason why us autox guys go to 9, 10, and wider)
Also as for the argument about sizes... 16s were used for YEARS on 80s and 90s Mustangs and Camaros. While the pickings are getting slimmer, there's still a market for them. Just like 15" tires are still readily available, they'll still be making 16" tires for a long time.
However, that being said, I like the 17" Magnum 500s the best out of the modern styled retro stock wheels. The V48s (17" Minilite clone) have to be some of the sexiest around though for my tastes.