I just looked up the Falcon, they make some very good tires, I have used some on trucks but not on cars, good choice in the size for where you live!
14lb wheel is a great weight so your combo is just over 34lbs, excellent
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Wider is better unless rain or snow then narrow is better
When talking about grip there are things to consider like ultimate stick or ultimate feedback and control which is generally going to be faster and safer to a degree. The tire and wheel widths I posted are pretty much the best way to go for your summer tires or AS you want to push a bit hard in the summer but for the rest of the year, more curb protection, etc...a 205 on a 7 is a wise choice and not a big compromise for summer so likely best for your needs.