Repairs are progressing quickly. I have replaced the lower control arm as documented in this thread:
Possible to Remove W124 Lower Control Arm Without Spring Compressor?
The sway bar and related assemblies appear fine. I'm just waiting on my tie rods which should be delivered Friday. I will pop them in and install the full-size spare which carries the same size tire. Then I will take it for an alignment Saturday.
Since I will need 2 wheels and tires, I have decided this would be a good opportunity to upgrade the wheels to 8-hole alloys from the later E class and C class.
I will run without a belly pan for now and will just wait to get a replacement from a junkyard. Upon closer inspection, the cracked bumper can definitely be repaired and refinished which should save some money.
Here is my revised estimate:
400 4 new 8-hole wheels (justtires.com)
203 2 new tires kumho PS758 195/65R15 (ebay)
045 pair tie rods (ebay)
089 new lower control arm (ebay)
080 bumper repair and refinish supplies
080 4-wheel alignment
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897