You actually need to change the 3 bolt nose cone to a splitty 2 bolt nose cone, as the bug 2 bolt nose cone puts the gearbox at a strange angle. If you compare a spiltty 2 bolt nose cone to a bug 2 bolt nose cone the hockey sticks com out at different heights. The splitty nose cone will keep the gearbox at the correct angle.
As for the 205 type 3 brakes they will fit on a long axles, but the wheels will stick out more. Like you say though 195 wheels should squeeze them under the arches. It all depends on the offset of wheel your running really.
Dude