pat, it should work. i imagine the biggest hurdle is getting the hid in the w201 housing (h4). i have an h4 kit, so there's hope (it's just plastic anway).
i would not be worried about the voltage as the ballast will regulate the correct requirements to the bulb. so, to answer your question, YES!
my friend is a service advisor at a local m-b shop. when they had lighting issues in their service bay, one of the techs grabbed car battery, wiring, ballast, and 1 hid bulb, and BAMMMMM. problem solved.
92 W124 300TE -- new to the family
85 W460 300GD Biodiesel -- going and going
98 W210 E300 Biodiesel -- 200k and going
86 W201 190E 2.6 stroker 16V -- RIP