Hi Tim, you are the only one in this thread who has used Minilite with a capital letter! It should be noted that the company who make Minilite will provide you with the offset you specify, you may have to wait but you can have what ever size, width and offset you want. If you use minilite look a likes then you'll be stuck with what is offered.
As for the aesthetics I agree with all the comments above; on an otherwise standard car they can look wrong, but on a lowered brown car they just look right. It helps if the car goes fast too.
To get back on thread;
What are the options and pros cons?
Cons; Cost, cost, cost and cost. Add another cost if you want a spare.
Pros; Look period, sets off a modified car, strong and stiff.
Do I need to change studs and nuts?
Nuts yes, nuts are provided with wheels. Studs maybe, this depends on the wheels thickness. Spec what you want.
14" or 15"?
Go 15" for the greater and better tyre choice.
Width?
If you are keeping the bodywork standard then you are limited by the rear bodywork. If you are happy to cut away the C pillar and rear doors etc then you can get wider tyres in. I'm sure others will let you know what is the max width for standard bodywork and also which offset etc.
Regards, Gavin.
I feel better now I've tried to balance the opinions.