I also have a '93 300E (124.032). Just had the head gasket replaced @143K miles ($1500). one down.
The other likely and "expensive" failure is the engine wiring hardness.

Like the others says, if the body is good, I'd fix it. Love the feel of an MB.

__________________
93 300E (for DAD)
06 ML500 (rides like a truck)
99 E320 (sold, wife didn't like the dings)
98 C280 (sold to family)