I agree with Michael. It's cheap peace-of-mind insurance, as the M119 DOHC V-8 is an interference engine, and that interference is very expensive when it happens.
Given that you are not the original owner, I would have it done. And the advice about the top rails and tensioner is also well worth heeding. It doesn't add much to the cost.
BTW, I have a friend with a Q45 that needed a new timing chain. Labour? 40 hours. Parts? $600. Total bill? $4K with taxes. So don't gripe about the >$1K bill for this job...
1998 C230 "Black Betty"