I would argue for more three cars. Assuming that all Swansea to Manchester trains are to be five cars. I'd also put ERTMS into a few more two cars, if not all of them.When the production line in Newport is still open, the sensible thing will be more 2 coach 197s. Maybe modified to remove the catering cupboard.
It would save money in the long-run as the depots won't have to carry various spare parts for the ageing 153s & 230s and will allow more flexibility.
Another thing to consider is where to maintain them. Chester will not cope with more than the 56 units already planned to be based there.