Given all the sage advice, if you are really interested in Mercedes cars for the long term - you need to find a really good mechanic first. Get a 240 stick or an early W124 (260E/300E) that has had the key repairs already done (search the forum). Then do your local research an find the best indy shop in your area.

I've found that your relationship with your mechanic is the most important element in managing maintenance and repair costs as well as keeping the car in good shape. Many of the really expensive repairs occur because realtively minor issues were not identified and corrected in a timely manner.

I've had a 220D stick (gone now), an '88 260E (still own - 300K+ miles) and a '97 S320 (300+ miles). The two I still have are running great. I spend around $2K on them both annually. I do almost all of the non-mechanical stuff myself (mirrors, stereo, seats, ...).

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Rick in Raleigh
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as of May 2011
'97 S320 LWB 325,000 miles
'88 260E 332,000 miles
'72 220D 338,000 miles (sold)
'73 BMW 3.0si 473,000 miles (retired)