You have a 16 valve 1.6, yes? It will do OK with 31's.... in high range, I can cruise around fine.. it's no speed demon, and I just have the 8 valve, quiet a few ponies less than you...It takes off fine in 1st, a little sluggish.. but tolerable.. I can still pull 5th gear at 65 mph most of the time, unless I get a long hill, then she will hold 60 pretty well in 4th... definately driveable.
I am going to 5.62 gears.. but only really because I found a set...
31's are OK... I would get a good clutch soon though... a good clutch will last, but if your OEM is a bit weak, the 31's will tax it quickly.