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How long is a piece of string?
The chains on the M119 usually last a long time, but require frequent oil and filter changes for long life. It's going to depend on the service history and driving patterns of your car. Lots of snapping throttle driving and letting the oil get dirty will severly shorten the chain life.
It is possible to measure the wear by measuring chain stretch at cam timing.
Does anyone know if the M119 suffers the guide problems of the M116? I don't think so, but if so, it should be checked too. My cousin has a 92 500E with that M119, and she replaced the chains and guides at about 275,000kms, which is just a few miles more than you have on your car. Hers were in decent shape, but she did it to sleep better knowing they were fresh. She got the car for a steal and spent some money to go through it with a fine tooth comb. I recall the chain swap was about $1100 parts and labour.
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