My '89 190e needs the same stuff at 98,000 mi. I'd like to raise it up a little at the same time. The thing bottoms out occasionally with a full passenger load.
I'm planning to mount Dunlop Sport A2's. They're rated very high and a lot cheaper than Michelin. Another option is Yokohama Avid H4. I'd go with a little wider tire, i.e. 195/60R15.
When you get done, let us know how you like the results.