I think it will be a case of "suck it and see". Some 16" rims may fit while others may not. It will be easy enough to check once you have your struts and discs; I can loan you my calipers (if you don't have any by then) and you can see if one of your MA70 rims fits over them.
Maybe look at Falcon rims, they seem to have a fair bit of clearance. 14 inch Falcon rims fit over 287mm discs from the factory so 298mm and 16's SHOULD be ok. Depends how much the caliper adds to the overall diameter.
i spose, come to think of it a stock 15" or 16" ba rim does fit over the 298mm rotors...calipers are where the fitting diameter becomes iffy im guessing.
But norbie thatd be great if i bring it round one day!