congrats on the high mileage.. Have you considered dropping a rebuild Long block in there? Metric has a good reputation and you might want to check out their web site. As far as the math goes, I'm guessing it will cost around $6000. However, you'll save the $2500 and the cost of a valve job (~$2500) AND you'll get right side cam and rebuilt lower end. OF course you have to tack labor to install the rebuild.

Another alternative is to do the scheduled maintenance but buy rebuild heads vs. rebuilding yours. Metric has these for around $740 each (includes core charge).

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Mark Herzig
1995 E300D 153K
1985 300D 142K (sold)
1979 450SL 122 miles (sold)
1992 500E 127K (sold)
1987 300SDL 132K (sold)
1986 300E 161K (sold)