Well, I haven't posted on here in quite a long time,,,,,
But I have been a Mercedes only tech since 1981.
I have owned more Mercs than I can remember and currently own four of them. (86 190e 2.3-16, 92 RennTech 500e, 91 300e, 88 300e)
......now that you know a little about me here is my opinion.
The 103 wins hands down, to me.
The 103 did have some issues with valve seals-guides, etc,,,,,but they are sooooooo much easier to work on and they can be modified very easily to perform quite well.
The 103 is a very very strong engine. Just look at what "Pumpish" manages to make them do with some boost!
The CIS system to me is the only downside on the 103,,,but only because it is now so old that replacement parts (fuel dist, etc) are high priced.
....but nowadays there are a number of choices out there who make EFI systems that can be added. (Mega squirt-Electromotive,etc)
The 104 is a pain in my ass, and I should know, as I see an average of 10-15 benzes a day at my shop.
I'd like to build a nice 300ce one of these days, for a clean cruiser. When I find the right car-I'll buy it....and if it happens to have a 104 engine in it,,, I will remove the 104 and throw it in the nearest scrap pile so I can put a turbocharge 103 in it!