Call me Ted!
I forgot about the bodywork. Before getting *too* interested, I'd have a body guy give you an estimate. Never know what you're getting into.
In regards to the W124 Diesel, I haven't read many good things about them. Then again, I'm not a diesel guy. If it were me, I'd go for a W123 instead. Yes, less sophisticated, but they last forever and are easy to work on.
On another note, I just sawa '90/'91 560SEC, same color as my SEL -- I want one!!!!!