Yes - just look at any stock 1994-1995 E320 sedan. You can make a 1986 model look exactly like that with bolt-on parts.

Oh yeah, one other thing I forgot - the door handles from 1990-up have a chrome (or stainless steel?) insert, which looks really nice. Finding a set of used door handles isn't easy or cheap, and the cost for new ones is crazy (hundreds of dollars). I picked up a set fairly cheap for when I eventually paint my 1987 300D.