Alvin

Bad news. Your AMG replica wheels with ET35 will not fit the car. You will have interference between the wheels and the tie rods, and possibly set too far in for the rear. The correct offset is ET25 for 7.5 X 16. Also, the W126 has very tall front grease caps (58mm), it will sticks out the center hole of your wheels. Your wheels are designed for the 300E with short caps.

As for tire sizes, 225/50-16 is a perfect fit. Good luck.