Those cars are different answers to different questions.

Having owned both W123 240Ds and a W201 190D 2.5, I don't see them as comparable cars. A fairer comparison would be to compare the W123 to the W124.

If it's a hobby your looking for, go with the W123. If it's a daily driver, the 190D wins. Bear in mind the 190D is small, much smaller than the 240D. This can be a minus or a plus.....

Jim

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14 E250 BlueTEC black. 45k miles
95 E320 Cabriolet Emerald green 66k miles
94 E320 Cabriolet Emerald green 152k miles
85 300TD 4 spd man, euro bumpers and lights, 15" Pentas dark blue 274k miles