wheels on a mk2f vw polo

Wouldn't waste your money on reps. They will look like reps, anyone in the know will spot you have reps, they will corrode like reps. Essentially what I am saying is don't buy the rs reps! They will be too wide for your car anyway. Buy they and you will need to modify your arches extensively. Fine if done properly, but often people take a hammer to their arches and do a really 5hit job of re-painting the area.
15s will also look pretty stupid unless your car has been lowered. You'll also need to run really low profile tyres, something along the lines of 165/50s for them to look right on a polo

Those cheap BBS replica wheels happen to get ugly very quick, very, very poor quality wheels.
Why wont you get a set of genuine BBS wheels that needs some work? If you're a bit into painting and polishing it can be fun, and it definitely saves you some cash.
A friend of mine rolls on 165/45 R15 with his Polo 3 coupé. 165/50 also might work without scrubbing if the offset is right.

honestly those reps are rubbish. Save your money and get the right wheels first time. the std wheels aren't that horrific. coilovers will set you back around £500, a h&r 60/40 shock and spring kit would be a far more sensible option and would save you a few £££. Budget coilovers start at around £400 and will be no better riding than the cheap shock and spring kits. A set of bbr rms can be had 2nd hand for around £350, so I don't know why you would even bother with reps.
165/50s or 45s are the best tyre option, although 175/50s or 185/45s are useable options. 195/45s are a bit wide and bulky imo. The mk2/2f polos will take 15s on std arches up to 6j wide. Beyond that you will be rolling arches or even flaring if you go really wide or silly with the offset.
As for what I run on my polos, I have run too many different sets of wheels to list, but have covered everything from 13 to 15£ on mk2 and mk2f polos.

Make sure you do your research! The h&r 60/40 cup kit is widely regarded as being one of the best setups for the old polo. Coilovers are expensive for them due to the front struts being one piece, so they have to be made using original struts (some companies will require you to send them your original struts in exchange). Another option, if you can find some is to use mk1 golf struts and hubs and get them converted. This gives you the nice bonus of having front camber adjustment.
There isn't really any such thing as cheap coilovers for the early polos. The cheapest start at £400 and that is if you go to the hassle of shipping them in from germany. The downside of the cheap coilies is that they use cheap dampers, which tend to be harsh and no better than the shocks used in the £100 lowering kits you can get for them. They are fine if you don't want any ride comfort and will last well enough if correctly fitted. It all depends what you want from the car. If you just want to go low, then they are an option and they do have the added bonus of allowing fine adjustment in ride height.
The flip side though is for the same money as cheap coilies you could have a quality spring and shock kit with adjustable dampers, so you can soften or stiffen the ride as and when you please.