My W126 road decent until I installed a new set of Bilsteins last year. Just because you car passes the bounce test doesn't mean the shocks are any good. Trust me a new set of Bilsteins will wake the car up the difference is amazing!
Personaly I think the W126 rides a little stiffer then I would like. I prefer the W140 and the W220. The W140 glides over the bumps you don't want to feel but tightens up in the corners. The W220 with air suspension is just awsome, even better then a W140 with hydo shocks all the way around.