Erik,
I own a '85 190E 2.3 5 speed. Though it is a 4 cyclinder, it is still an awesome car. I have over 280k miles on it, enjoying every mile that I put in it. It's a small car, great for commuting. So far, the problems I have had with it are pretty standard wear and tear: dirty injectors, broken tumbler, water pump, and alternator. All of the above has been changed only once, except for the water pump.
It's an easy car to work on, and the prices are not that bad. So if you can find your self any 190E with a clean record, then I'd recommend you to go for it!
-Regards,
vu
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