Date registered: Jul 2006
Vehicle: 1999 E55, 2001 E320, 1990 560 SEC, 2004 ML350, 2001 ML55, 1995 S500, 1998 SL500, 2010 E550 Sport zoo
Location: NW Arkansas, La Jolla CA, Hong Kong
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To the OP, this MB tranny actually has quite a robust reputation - however when the W210 series was introduced MB spec'd the tranny as "sealed for life", with no service required, and this "sealed for life" specification was recanted later.
At 120K depending on the prior owners useage you "should" be able to give your tranny prooer service and avoid costly overhaul/replacement.
If you are from "down under" mate - and it's not a stage avatar as a male dancer - then you know accurate info on MB's can be spotty, and MB dealers there out-of-their-gourd.
Propoer tranny service for fresh fluid needs to be done (correct 5-speed fluid) and at youyr mileage 100% of that fluid should be replaced if you expect to get any more life from the tranny you have, replacement of the tranny adapter plug (USD$20), and other basic issues posted over and over hear on this forum.
It's up to you, if you want to avoid a new tranny, you are going to have to spend some reasonable dollars to service the tranny you have.
Keep the beat !