This is my first post... subject car has 174K miles on it and was given to me yesterday and there seems to be something wrong with the trans? she started up/idled fine... popped hood, there is excess oil leaking from valve cover? and there is oil around all five ejectors there's an 8" oil leak in my drive way, looks like it's coming from rear engine/trans area (it's engine oil). Road test - 1st, 2nd gear shift ok after this engine rpm's go up, no 3rd gear 20-25 mph and thats it... check trans fluid level "good"... Is this a trans problem or vacuum or blown engine... What should I do before taking it to the shop.

Thanks for the replies in advance and I look forward to owning and operating a 300D W123 on a daily basis for many years, one way or the other.