Drove my 1998 E430 through a nasty blizzard this past spring. Saw a car behind me spin out, another in front and quite a few in the ditch as well. Mine did fine with 4 snow tires and some diligent driving - no problems at all.
The ESP really helps in the snow, as does the 'W' mode for when you forget how much torque is on tap at the lights. 
With a 4-MATIC, it'll do just fine.
Heck, you can even tow a snowboarder with an E430 4-MATIC... 
http://www.youtube.com/watch?v=U_DoRYdJfb4
I've had mine for only about a month and a bit thus far, but I am loving it! Great car. Check out the 'Featured Cars' forum here, Suginami did a nice review of his W210 vs his older W124 there and many other have chipped in their $0.02.
Here's the link -
http://www.peachparts.com/shopforum/showthread.php?t=119726
__________________
Chris
2007 E550 4Matic - 61,000 Km - Iridium Silver, black leather, Sport package, Premium 2 package
2007 GL450 4Matic - 62,000 Km - Obsidian Black Metallic, black leather, all options
1998 E430 - sold
1989 300E - 333,000 Km - sold
1977 280E - sold
1971 250 - retired
"And a frign hat. They gave me a hat at the annual benefits meeting. I said. how does this benefit me. I dont have anything from the company.. So they gave me a hat." - TheDon
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