I'm in the process of selling my '94 E420, '97 E320 and (sob) my '70 300SEL 6.3 and replacing those with 1 car. I'm looking at the E500/E55 models from 2000 to 2004. I've got a V-8 Jones and there's nothing I can do about it. I'll be seeking a very low mileage unit.
What should I be particularly concerned about in my PPI? What problems-routine or unusual-should I anticipate over a 5 year ownership period. I love to drive, but my commute is short and we drive all the cars about equally. Going down to one, I'm guessing I'm in the 8-10,000 miles per year range.
I would stay away from the 03, it was the first model year for the compressor and lots of E55 owners have had problems with them...either get a W210 or save a little more and get a 04 W211. If your in the need for speed...I would save for the W211. IMHO the W210 looks more muscular but it's not in the same league as the W211
Individual results vary, but the odds of a lemon increase greatly between 02, the last year and most "bugs worked out" w210 and the 03, first year of the w211.
Statisitically speaking, the W211s are way more problematic, and 03 is by far the worst of the bunch. Electrical issues are EVERYWHERE. I personally wouldn't buy any 03 unless it was from someone I knew and thus new first hand the cars entire history.
If you want a reliable car, your best bet is an 02. The 04s are better than the 03s, but I don't think they approach the 02. You may get lucky, but if you are looking for a daily driver you might not want to chance it.
The cars, of course, are very different. The W210 is a bit more classic and I think it feels richer inside. The W211 is more contemporary and noticably quicker off the line. Straight-line performance there is no comparision. The W211 plays in a whole new league.
The W210 is lighter and feels easier to toss around, but the neither is sports car when it comes to handling. I think the W210 has more room inside, and the W211 has better ride quality (although both are great).
Then there is the issue of price. W210s are dirt cheap these days, but W211s, even 03s, are still close to $50 grand in price I believe. You will likely pay close to double for comparable mileage 02s and 03s.
Lastly, if you care, there is the exclusivity factor. W210 AMGs are very rare birds -- I'd guess there are only about 1500-1700 on the road in the entire US by now. Mercedes drasticially increased producution for the W211, so they are commonplace (at least relatively speaking).