when I said best it means in overall
that include value, fuel economy,looks,most trouble free,ect...
In some cases a car with a lot of power like the E500 would not get a top score because of the cost to own this wonderfull car.

I'd agree with others that say the W124 with the 4.2 liter V8 would be the best W124 model OVERALL.

That would include the 1992-1993 400E / 1994-1995 E420 (the 400E's have the same 4.2 liter engine as E420's).

1. They all have R134a air-conditioning.

2. You get 90% of the power of the 500E's w/o the premium price tag.

3. There is almost no mileage penalty with the V8 over the 3.0 liter / 3.2 liter 6-cylinder engines.

Most everyone seems to like the updated hood / grill / headlights of the 94-95 models, but I think it's largely over-rated. I actually prefer the earlier grill, but no one will argue that the early headlights are prettier. The early U.S. headlights are ugly and put out little to no light.

You can upgrade the look of 92-93's by installing the Euro lights, adding the clear / yellow corners, and installing the clear / red tail lights.

Having own a 89 300E, and currently owning a 95 E420 and 94 E500, I would say the best overall value is my 95 E420.

When I sold my 300E and bought my E420 I was afraid of the gas mileage issue, going from a 6 to a 8, but that was never an issue. Truth be told I get the same gas mileage in both cars 300E & E420). The E500 is another story. That is a gas guzzling son of a b----!!! :D

1987 300D turbodiesel.

Outstanding performance, nice handling, 32 mpg, and relatively rare. Can't be beat, last non-electronic diesel (except for idle control, and that can be bypassed).

Peter

Middle of the model run
 

I would suggest the middle of the model run. Experiences of other club members here (and my own) suggest the earlier W124s are actually more reliable, especially considering they have covered greater distances. The later M104 (2.8 & 3.2) powered versions give the most trouble here. My father's '93 E320 coupe is no exception. With only about 130,000km it has been more troublesome than our '90 300TE with 175,000km (and more difficult to work on). Friends with earlier versions (late '80s) have had even less trouble. I much prefer the appearance of the late '89 update over the early models and (like Paul S) even prefer it to the '93 update. I like the ease of working on the M103 and its quiet, smooth, unfussed nature. The 3.0-24 M104 does have a potent top end though and the 3.2 M104 adds useful torque (as well as more noise). I cannot comment on V8 versions as we got only fours and sixes in Australia. Locally, the fours are accepted as offering the best handling with less weight out front. Unfortunately, they come up a bit short on power and aren't as smooth as the sixes. If outright power is not of greatest importance then my vote is for a '90 to '92 with an M103 (3 litre).

They never got the 300E-24 in the US at all, only the 300CE-24 (badged only 300CE). In Australia we got the 300E, 300CE, 300E-24 and 300CE-24 (all badged that way), but all had cats here. We had quite a good W124 model range in Oz. See:
http://forums.mbworld.org/forums/showthread.php?threadid=39199

I'd have to agree with Paul on this one. Although there isn't anything wrong with the face-lifted styling of the later models per se, i wouldn't go out of my way to get one. Nor would I spend the 1000s of dollars to modify my pre-facelifted W124s to look like something it's not.

You are right on the money. That’s what best means after all.

Stay away from the early M104 with Mercedes on the engine cover. Parts are impossible to get to keep those on the road.