The euro w124 300D sans turbo are great cars, it is the same OM603 motor and is identical to what you will find in Fed versions of the 603 86-87 barring the turbo etc. Without the turbo it will be slower than a US car but still faster than a OM617. It is also quite likely to run much cooler than a turbo car and this may be a huge benefit since it will likely have the #14 cyl head. No turbo should give you EGT's of >350 deg less than a turbo motor....much longer life too.

Good luck,

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Stable Mates:
1987 300TD 310K mi (Hans)
2008 Jeep Grand Cherokee OM642 165k mi (Benzrokee)