It's good to read about the good things on this board as well as the problems. I have a '88 260E that runs incredibly well. It idles so smooth I can't even tell the engine is running and still drives like new. A few things I did to the car after buying it two years ago are:

-Resealed upper timing cover (was leaking)
-Replaced serpentine belt
-Replaced valve stem seals
-Replaced both headlight rims (the old ones were chipped and cracked)
-Replaced the grill moulding and painted the grille flat black

Now the car looks like new too.

Things I still need to fix are:

-Cruise control
-Air conditioning
-Power antenna

Thanks for the tip on painting the wheels Eric. I have a wheel that is peeling and faded that needs to be repainted. Regarding brake pads - I have always been a fan of PBR (or AXIS) brand. They are made of good old asbestos and don't squeak or create dust. They may need to be replaced a little more often but your rotors will last forever.

- John